UPS expects second-quarter profit below estimates

(Reuters) - United Parcel Service Inc , the world's No.1 package delivery company, estimated second-quarter profit below analysts' expectations, hurt by overcapacity in the global air freight market and a slowing U.S. industrial economy.

UPS said it expects to report second-quarter earnings of $1.13 per share. Analysts on average expected earnings of $1.20 per share, according to Thomson Reuters I/B/E/S.

The company's shares were down 4 percent at $87.90 in pre-market trading on Friday.

(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Saumyadeb Chakrabarty)

Source: http://news.yahoo.com/ups-expects-second-quarter-profit-below-estimates-124606485.html

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