
UPS fell short of Wall Street revenue estimates Tuesday, reporting drops in shipping volume, both internationally and domestically, in its fourth-quarter earnings report. The company also announced 12,000 layoffs as part of an effort to align resources in 2024.
Shares of the package giant dipped nearly 6% in premarket trading.
Here’s how the company performed compared to Wall Street estimates:
Adjusted earnings: $2.47 vs. $2.46 per share expected, according to LSEG, formerly known as Refinitiv
Revenue: $24.92 billion vs. $25.43 billion expecte