Ups 2q Profit Drops 58 Percent

ATLANTA (AP) — United Parcel Service Inc. (UPS) on Tuesday reported net income that declined by 58 percent in its second quarter, and missed analysts' expectations. The Atlanta-based company said profit declined to $454 million, or 49 cents per share, from $1.07 billion, or $1.13 per share, in the same quarter a year earlier. Earnings, adjusted for non-recurring costs, were $1.21 per share.

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