XPO: 2Q Earnings Snapshot
GREENWICH, Conn. (AP) _ XPO Logistics Inc. (XPO) on Wednesday reported second-quarter profit of $149 million.
The Greenwich, Connecticut-based company said it had net income of $1.03 per share. Earnings, adjusted for non-recurring gains, were 98 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The freight management company posted revenue of $4.36 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $4.28 billion.
XPO shares have climbed 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $99.95, an increase of 70 percent in the last 12 months.