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Investing
10/23/2013 @ 11:18AM
Earnings Expected to Increase for United Parcel Service
Wall Street is optimistic about United Parcel Service UPS -0.16%, which is slated to report its third quarter results on Friday, October 25, 2013. Analysts project a profit of $1.16 a share, a rise from $1.06 per share a year ago.
For the fiscal year, analysts are projecting earnings of $4.75 per share. Revenue is projected to be $13.60 billion for the quarter, 4% above the year-earlier total of $13.07 billion. For the year, revenue is projected to roll in at $55.65 billion.
For the past three quarters, the company has seen revenue increase. The 3% revenue increase brought the figure up to $13.51 billion in the most recent quarter. Looking back further, revenue increased 2% in the first quarter from the year earlier and 3% in the fourth quarter.
The majority of analysts (53%) rate UPS as a buy. That percentage is still below the mean analyst rating of three similar companies, which average 68% buys.