US bellwether UPS meets earnings estimates

US delivery company the United Parcel Service has posted results for the second quarter with earnings meeting analyst estimates, making $1.13 a share, down from $1.15 a share last year.

Total revenues were up 1.2 per cent to $13.51bn despite customers switching to slower and cheaper services for international routes. The firm is often seen as a bellwether for the health of the US economy.