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VOL. 35 | NO. 29 | Friday, July 22, 2011




UPS sticks with its outlook as 2Q earnings rise

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NEW YORK (AP) — UPS says it still expects to grow earnings this year despite an "uneven economic environment." It's keeping its forecast for the year after reporting second-quarter earnings rose 26 percent.

The world's largest package delivery company said Tuesday it earned $1.06 billion or $1.07 per share, compared with year-ago earnings of $845 million, or 84 cents per share.

Revenue rose 8.1 percent to $13.19 billion. International revenue climbed 13.3 percent, while domestic package revenue rose 6.4 percent. Logistics and freight revenue increased 7 percent.

Analysts polled by FactSet Research expected a profit of $1.12 per share on $13.26 billion in sales.

United Parcel Service Inc., based in Atlanta, expects adjusted earnings this year of $4.15 to $4.40 per share. Analysts currently predict $4.34.

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