UPS is heading to “the elephant in the room,” as Amazon accounted for more than $ 11 billion in 2020 revenue

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UPS from United Parcel Service Inc.,
+ 2.04%
rose 3.7% in morning trading, enough for the Dow Jones Transportation Average DJT rate,
+ 1.90%
winners, after the package delivery giant previously reported better-than-expected fourth-quarter results. In the post-earnings conference call with analysts, CEO Carol Tomé said, “So let’s go to the room elephant, which is the largest customer.” Among 19 million customers, Tomé said that Amazon.com Inc. AMZN,
+ 1.45%
was the largest, with a total revenue share of the e-commerce giant that increased to 13.3% in 2020, from 11.6% in 2019. With UPS were reported total revenues of 2020 by $ 84.63 billion in 2020, indicating that Amazon accounted for $ 11.26 billion in 2020 revenue, compared to $ 8.59 million a year ago. UPS shares have gained 1.6% over the past three months, while Amazon shares have advanced 13.9%, Dow Transportation has surpassed 10.8% and DIA Jones Dow Jones Industrial Average,
+ 1.83%
has risen 13.4%.

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