In Thursday premarket trading, shares United Parcel Service Inc. (UPS, Financial) lost ground after the company reported fourth quarter earnings per share of $1.67 on revenue of $18.83 billion, beating profit estimates by one cent per share and beating revenue expectations by $640 million. The company’s revenue increased by 11.2% year-over-year, while operating profit was $725 million and adjusted operating profit increased 7.6% to $760 million.
David Abney, chairman and CEO of UPS, said, “We achieved our 2017 adjusted earnings-per-share target through exceptionally strong revenue and yield growth, coupled with benefits from our network investments and portfolio initiatives."
The company expects 2018 adjusted diluted per-share earnings to be in a range of $7.03 to $7.37, which includes about $200 million of additional pre-tax pension expense.
Shares of Time Warner Inc. (TWX, Financial) gained in Thursday, after the company reported fourth quarter earnings per share of $1.60 on revenue of $8.6 1billion. The company beat estimations, 17 cents in earnings per share and $180 million in revenue.
Jeff Bewkes, chairman and CEO of Time Warner, said, “We had another very successful year in 2017, achieving our financial goals thanks to the great creative and programming excellence across Time Warner. All three of our operating divisions increased revenue and profits while also investing to capitalize on the growing demand for the most creative and compelling content as well as new ways to deliver it to audiences worldwide.”
Further, operating income inched up 13% to $1.9 billion and adjusted operating income increased 9% to $1.9 billion. The main driver was the growth experienced at Turner and Home Box Office and lower corporate expenses.
AT&T Inc. (T, Financial) shares jumped in premarket trading after the company reported fourth quarter earnings per share of $78 cents on revenue of $41.7 billion. The company managed to beat earnings per share expectations by 13 cents and revenue expectations by $510 million. The telephone giant's revenue declined 0.36% year-over-year.
Disclosure: The author holds no position in any stocks mentioned.
