UPS Q1 Profit Drops 28 Percent on Lower Amazon Volume
UPS reported a 28 percent drop in adjusted first-quarter profit as it reduced Amazon deliveries. The firm is now focusing on higher-margin healthcare shipments.
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UNITED PARCEL SERVICE-CL B reported a 28% drop in adjusted quarterly profit to $1.07 per share for the first quarter ended March 31. Earnings fell from $1.49 a year earlier as the United States firm cut volume from its largest customer. The shift signals a pivot toward high-margin healthcare and data center logistics to offset slowing e-commerce demand.
