UPDATE: UPS Q2 Profit Slips 4%

United Parcel Service

reported a 4% drop in its second-quarter profit. United Parcel Service's quarterly earnings fell to $1.07 billion, or $1.13 per share, from $1.12 billion, or $1.15 per share, in the year-ago period. Its revenue rose 1.2% to $13.51 billion. However, analysts were projecting a profit of $1.13 per share on revenue of $13.59 billion. Its operating margin shrank to 12.9% from 13.4%. UPS shares fell 0.13% to $87.50 in pre-market trading.