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The Latest UPS Headlines
UPS network revamp bolsters profit in holiday quarter, shares jump
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<blockquote data-quote="cheryl" data-source="post: 3931810" data-attributes="member: 1"><p><a href="https://www.reuters.com/article/us-ups-results/ups-network-revamp-bolsters-profit-in-holiday-quarter-shares-jump-idUSKCN1PP1IZ" target="_blank"><strong>UPS network revamp bolsters profit in holiday quarter, shares jump - Reuters</strong></a></p><p></p><p>United Parcel Service Inc’s multi-billion-dollar effort to revamp its network helped it deliver better-than-expected profit in the crucial holiday fourth quarter, driving down costs as e-commerce deliveries surged to record levels.</p><p></p><p>Investors cheered the news, sending shares up 6.6 percent to $107.88 in morning trading.</p><p></p><p>Increased investment in modernizing its network helped the world’s biggest package delivery firm better manage a surge of Christmas packages as more consumers shifted to online shopping, executives said. UPS spent $6.6 billion in 2018 as part of a three-year plan to automate package-sorting hubs, make routes more efficient and invest in airplanes and other equipment.</p><p></p><p>Analysts said lower operating costs helped the company exceed profit expectations as well.</p></blockquote><p></p>
[QUOTE="cheryl, post: 3931810, member: 1"] [URL='https://www.reuters.com/article/us-ups-results/ups-network-revamp-bolsters-profit-in-holiday-quarter-shares-jump-idUSKCN1PP1IZ'][B]UPS network revamp bolsters profit in holiday quarter, shares jump - Reuters[/B][/URL] United Parcel Service Inc’s multi-billion-dollar effort to revamp its network helped it deliver better-than-expected profit in the crucial holiday fourth quarter, driving down costs as e-commerce deliveries surged to record levels. Investors cheered the news, sending shares up 6.6 percent to $107.88 in morning trading. Increased investment in modernizing its network helped the world’s biggest package delivery firm better manage a surge of Christmas packages as more consumers shifted to online shopping, executives said. UPS spent $6.6 billion in 2018 as part of a three-year plan to automate package-sorting hubs, make routes more efficient and invest in airplanes and other equipment. Analysts said lower operating costs helped the company exceed profit expectations as well. [/QUOTE]
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The Latest UPS Headlines
UPS network revamp bolsters profit in holiday quarter, shares jump
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