NEW YORK (CNN/Money) -
United Parcel Service met second-quarter earnings forecasts with mixed results, the company reported Friday.
The world's largest transportation company earned net income of $611 million, or 54 cents a share, in line with the consensus forecast of analysts surveyed by earnings tracker First Call but down from the $630 million, or 55 cents a share, earned a year earlier. Revenue rose to $7.68 billion from $7.49 billion a year earlier, but it just missed the First Call forecast of $7.72 billion.
The company said it will release additional details of its second-quarter results on its regularly-scheduled earnings release date of July 23, but that it moved up a partial earnings release because of the announcement that it will be added to the Standard & Poor's 500 index after the market close July 19.
The company also said that the initial release of data will make it easier to go ahead with its secondary stock offering of 32.5 million shares that will occur with its inclusion in the S&P 500. The offering is slightly bigger than the 30 million shares the company previously announced would occur when it was added to the S&P. The additional shares are needed to meet mutual fund demand to mirror the S&P.
Shares of UPS (UPS: Research, Estimates) edged down early Friday.
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