United Parcel Service, Inc. (NYSE:UPS) the world’s largest delivery company, and a proxy gauge for economic conditions, declared results for its second quarter that missed market expectations. The company also cuts its outlook for the fiscal year of 2012 in view of a bleak global economic outlook.
It posted an EPS of $1.15 a share on revenues of $13.35 billion, against expectations on the street of $1.17 and $13.7 billion respectively. Net income came in at $1.12 billion, higher on the year ago period by about 2.2 percent. This is the second quarter on the trot, that the company has missed on estimates.