UPS Surges After Profit Tops Estimates on Holiday Gain
This article is for subscribers only.
United Parcel Service Inc., the world’s largest package-delivery company, climbed to the highest price in more than two years after an increase in holiday volume propelled fourth-quarter profit higher than analysts’ estimates.
Adjusted profit of $1.08 a share exceeded the average $1.05 projection of 23 analysts surveyed by Bloomberg. Revenue rose 8.4 percent to $13.42 billion, the Atlanta-based company said today in a statement, also outpacing analysts’ projections.