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UPS Raises Outlook for Year Despite Mixed Economy
NEW YORK (AP) -- UPS is confident it can overcome a slow economic recovery in the U.S. and Europe and is once again raising its outlook for the year.

The Atlanta company now expects adjusted earnings of $3.35 to $3.47 per share, compared with analysts' expectations of $3.27.

UPS Inc., the world's largest shipping company, also said Thursday its second-quarter earnings jumped to $845 million, or 84 cents per share, compared with 445 million, or 44 cents per share a year ago. Revenue rose 13 percent to $12.2 billion.

Thomson Reuters says analysts forecast 77 cents per share on $11.98 billion in revenue.

UPS CEO Scott Davis says "UPS fired on all cylinders in the second quarter even in the face of a mixed global economic environment."

(Copyright 2010 by The Associated Press. All Rights Reserved.)
07 22 10 by Newsroom
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