ATLANTA (AP) — United Parcel Service Inc. (UPS) on Thursday reported fourth-quarter net income of $453 million.
On a per-share basis, the Atlanta-based company said it had net income of 52 cents. Earnings, adjusted for non-recurring costs, were $1.94 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The package delivery service posted revenue of $19.85 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $19.92 billion.
UPS expects full-year earnings in the range of $7.45 to $7.75 per share.
UPS shares have risen almost 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 7 percent. The stock has decreased 21 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UPS at https://www.zacks.com/ap/UPS
