April 28, 2020 / 11:14 AM / a month ago

United Parcel Service pulls 2020 forecast on pandemic uncertainties

April 28 (Reuters) - Package delivery company United Parcel Service Inc pulled its full-year earnings forecast and posted a 13% fall in first-quarter profit on Tuesday as coronavirus-driven lockdowns disrupted its business.

Atlanta-based UPS said net income fell to $965 million, or $1.11 per share, in the quarter ended March 31, compared with $1.11 billion, or $1.28 share, a year earlier.

Revenue rose 5.1% to $18.04 billion. (Reporting by Sanjana Shivdas in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Saumyadeb Chakrabarty)

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