UPS beats earnings expectations amid cost-cutting measures

3 months ago

Denita Sakova

"Big layoffs uh yes but investors have been reacting positively to that and obviously is the main number that has really impressed the street is adjusted earnings that came at $1.74 4 cents and the street was expecting $1.32. So really big positive surprise there. Of course profit expectations are helping but cutting costs and eliminating 32,000 jobs has been a major impact here. The ticker is UPS of course and shares are up about 5%. Actually in early trading they jumped as much as 13%."

UPS delivered a strong earnings beat with adjusted earnings surpassing expectations and significant cost-cutting via layoffs, which has driven its shares higher in early trading.

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