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Home / Business / UPS stock stocks rose sharply after rising high profits and income as housing demand picked up

UPS stock stocks rose sharply after rising high profits and income as housing demand picked up



UPS United Parcel Service Inc. shares
+ 3.39 percent
rose to 10.6 percent. to record sales before launch on Thursday, after the packaging delivery giant reported that profits in the second quarter, which far exceeded expectations, boosted population demand and healthcare shipments stemming from the COVID-19 pandemic. Net income rose to $ 1.77 billion, or $ 2.03 per share, from $ 1.69 billion or $ 1.94 per share a year ago. Excluding one-time items, adjusted earnings per share were $ 2.1

3, nearly double the FactSet consensus of $ 1.07. Revenue rose 13.4% to $ 20.46 billion and reached a FactSet consensus of $ 17.50 billion as local packaging revenue rose 17.3% to $ 13.07 billion and exceeded expectations of $ 11.15 billion. USD. In the U.S., average daily volume increased 22.8%, while demand for home delivery increased and business-to-consumer increased 65.2%. Shares rose 5.7% year-on-year since Wednesday, and Dow Jones Industrial Average DJIA
+ 0.60 percent
fell 7.0%.


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