UPS posts EPS of $2.03 in Q2, rising 4.6% YoY

EPA-EFE/MICHAEL REYNOLDS

United Parcel Service (UPS) said on Thursday diluted earnings per share (EPS) in the second quarter of 2020 stood at $2.03, rising by 4.6% from the same period a year ago.

Net income amounted to $1.8 billion in the three-month period, while revenue jumped 13.4%% year on year to $20.5 billion.

"Our results were better than we expected, driven in part by the changes in demand that emerged from the pandemic, including a surge in residential volume, COVID-19 related healthcare shipments and strong outbound demand from Asia," CEO Carol Tome stated.

UPS shares soared 9% in premarket trading on better-than-expected results.

Breaking the News / NP