An independent contractor driver wears a protective mask while operating a delivery truck to deliver N95 breathing masks outside a United Parcel Service Inc. (UPS) ground sorting facility in Louisville, Kentucky, USA, on Monday, 13 April 2020.
Luke Sharrett | Bloomberg | Getty Images
UPS shares rose about 4% in pre-market trading on Tuesday after the company reported better-than-expected revenues and profits during the busy holiday shopping season, reflecting a boom in online shopping due to to the Covid-19 pandemic.
See how UPS fared during the fourth quarter ended December 31, compared to what investors expected, based on estimates compiled by Refinitiv:
- Adjusted EPS: $ 2.66 per share vs. $ 2.14 expected.
- Revenue: $ 24.9 billion against expected $ 22.87 billion.
UPS did not provide a perspective on its future earnings due to the ongoing uncertainty of the pandemic.
“Our financial performance in the fourth quarter exceeded our expectations and I thank all UPSers for their extraordinary efforts to provide industry-leading services during the holiday season.” CEO Carol Tomé said in the earnings statement.
This is a developing story. Please check back later for updates.