While we wait for the day s main earning highlight, Q1 reports from Microsoft and Google both due after the close, it s been a busy morning with some of the most prominent companies reporting earnings in the premarket. Below we summarize some of the biggest market movers:
United Parcel Service (UPS): Adj. EPS 2.77 (exp. 1.72), Revenue 22.9bn (exp. 20.49bln).
UPS soared 8.1% in premarket trading after reporting stellar results including adjusted earnings per share for the first quarter that beat the average analyst estimate. Details: Adjusted EPS $2.77 vs. $1.15 y/y, estimate $1.73 (range $1.55 to $1.99) Revenue $22.91 billion, +27% y/y, estimate $20.60 billion U.S. package revenue $14.01 billion, +22% y/y, estimate $12.86 billion