UPS gains after efficiency improvement leads to profit beat
by Seeking Alpha
Seeking Alpha— United Parcel Service (NYSE:UPS) gained in early Tuesday trading after the company posted a mixed Q3 earnings report.
Bloomberg—UPS Profit Tops Estimates as Efficiency Push Counters Labor Cost. United Parcel Service Inc. reported profit higher than analysts’ estimates as the courier’s headcount management and restructuring of its delivery routes began to bear fruit.
Yahoo Finance—UPS profit beats estimates as cost cuts offset weak delivery demand. UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter". "Revenue in both major businesses, U.S. Domestic and International, fell short of expectations," said Jonathan Chappell, equity analyst at Evercore ISI, in a research note.
CNBC—Coinbase reports first-quarter revenue beat after bitcoin rally leads surge in profit. Coinbase's quarterly results follow a big jump in the price of bitcoin from a year earlier, though the rally has stalled of late.