United Parcel Service (UPS)

United Parcel Service Inc (UPS.N), the world's largest package delivery service, reported a 43 percent drop in earnings that nonetheless topped analysts' forecasts, saying that cost-cutting helped its profit margins. It said Thursday third-quarter profit fell to $549 million, or 55 cents per share, from $970 million, or 96 cents per share, a year earlier. Revenue tumbled 14.9 percent to $11.15 billion.
Analysts on average had looked for earnings of 52 cents per share, according to Thomson Reuters I/B/E/S, and they were expecting $11.17 billion in revenues.

Oct 22 · 10:18:00 AM · Source: Reuters
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by Larry Etter