UPS Drops 8% Following Fourth Quarter Results

(RTTNews) - Shares of United Parcel Service, Inc. (UPS) are falling more than 8% Tuesday morning after the logistics giant reported lower profit as well as revenue for the fourth quarter than last year. While earnings surpassed the average estimates of analysts, revenue missed.

Net income was $1.61 billion or $1.87 per share, down from $3.45 billion or $3.96 per share a year ago. Excluding one-time items, earnings were $2.47 per share,31.8% below the same period last year.

Revenue for the quarter declined to $24.92 billion or $27.03 billion in the previous year. UPS, currently at $145, has traded in the range of $133.68 - $197.80 in the last 1 year.