United Parcel Service, Inc. (UPS) shares have seen a drop of over 8% this Tuesday morning. This downward trend is due to the organization’s reported dip in profits and revenue in comparison to the previous year's fourth quarter. Despite earnings surpassing the anticipated analyst average estimates, revenue did not meet expectations.
Following the end of the last financial period, UPS' net income was calculated to be roughly $1.61 billion or $1.87 per share. This is quite a considerable drop from last year's figures when it was registered at $3.45 billion or $3.96 per share. If we exclude one-time items, earnings would be $2.47 per share, which is a 31.8% drop from the same period last year.
A decline was also noted in the quarterly revenue, which falls from $27.03 billion in the previous year to $24.92 billion this year. Presently valued at $145, the trading range for UPS within the last year has fluctuated between $133.68 to $197.80.
