UPS Surges Most Since 1999 on Delivery Boom Spurred by Virus - MSN
United Parcel Service Inc. climbed the most in more than 20 years as the courier’s results easily topped Wall Street’s expectations on pandemic-induced demand for e-commerce deliveries, health-care equipment and goods from Asia.
Revenue jumped 13% to $20.5 billion in the second quarter, exceeding the highest analyst prediction. Adjusted earnings were double the average of estimates compiled by Bloomberg, and new Chief Executive Officer Carol Tomé signaled her focus on profitability with a vow to make UPS “better, not bigger” as a shift toward home deliveries threatens to squeeze margins.
United Parcel Service Inc. climbed the most in more than 20 years as the courier’s results easily topped Wall Street’s expectations on pandemic-induced demand for e-commerce deliveries, health-care equipment and goods from Asia.
Revenue jumped 13% to $20.5 billion in the second quarter, exceeding the highest analyst prediction. Adjusted earnings were double the average of estimates compiled by Bloomberg, and new Chief Executive Officer Carol Tomé signaled her focus on profitability with a vow to make UPS “better, not bigger” as a shift toward home deliveries threatens to squeeze margins.
