10/22, 1:02 PM (Source: TeleTrader)
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UPS posts EPS of $2.01 in Q3, up 16% YoY

American package delivery and logistics company United Parcel Service said on Tuesday its diluted earnings per share (EPS) in the third quarter of 2019 jumped over 16% year over year to $2.01, topping market estimates, and net income climbed 16% to $1.75 billion.

Meanwhile, amounted to $18.32 billion, increasing 5% compared to the same quarter a year ago but lower than analysts had expected.

"Our results reflect significant progress from our transformation initiatives, and our ability to generate growth and deliver increased efficiencies in a dynamic economic environment," CEO David Abney stated. "As we recently announced, we continue to forge new partnerships and create innovative solutions to accelerate growth in the most attractive opportunities."

UPS shares were up 1.25% in premarket trading after the release of the results.

Breaking the News / NP