India, July 29 -- United Parcel Service, Inc. (UPS) reported Tuesday lower profit in its second quarter with weak revenues. Adjusted earnings missed market estimates, while top line beat Street.
In the pre-market activity on the NYSE, UPS shares were losing around 3.5 percent to trade at $97.99.
In the second quarter, the package delivery giant said its net income dropped 8.9 percent to $1.28 billion from last year's $1.41 billion. Earnings per share were $1.51, down 8.5 percent from $1.65 a year ago.
Adjusted earnings were $1.31 billion or $1.55 per share for the period, compared to $1.53 billion or $1.79 per share a year ago.
The Wall Street analysts on average expected the company to report earnings of $1.57 per share. Analysts' esti...