XPO: 2Q Earnings Snapshot
GREENWICH, Conn. (AP) _ XPO Logistics Inc. (XPO) on Thursday reported a second-quarter loss of $132 million, after reporting a profit in the same period a year earlier.
The Greenwich, Connecticut-based company said it had a loss of $1.45 per share. Losses, adjusted for one-time gains and costs, were 63 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 75 cents per share.
The freight management company posted revenue of $3.5 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $3.36 billion.
XPO shares have increased almost 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $86.62, a rise of 29% in the last 12 months.