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In this Tuesday, April 18, 2017 photo a United Parcel Service cargo plane sits idle during the day as it awaits loading at Richmond International Airport in Sandston, Va. United Parcel Service Inc. reported first-quarter net income of $1.16 billion on Thursday, April 27, 2017. (AP Photo/Steve Helber)
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UPS tops Street 1Q forecasts

In this Tuesday, April 18, 2017 photo a United Parcel Service cargo plane sits idle during the day as it awaits loading at Richmond International Airport in Sandston, Va. United Parcel Service Inc. reported first-quarter net income of $1.16 billion on Thursday, April 27, 2017. (AP Photo/Steve Helber)

ATLANTA (AP) — United Parcel Service Inc. is reporting first-quarter net income of $1.16 billion.

On a per-share basis, the Atlanta company said it had profit of $1.32.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The package and delivery service posted revenue of $15.32 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $15.18 billion.

UPS expects full-year earnings in the range of $5.80 to $6.10 per share.

UPS shares have declined 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 7 percent. The stock has increased slightly more than 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UPS at https://www.zacks.com/ap/UPS

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Keywords: United Parcel Service, Earnings Report, Priority Earnings

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