United Parcel Service (UPS) reported a 2016 net profit of $3.4 billion, down 29.2% from net income of $4.8 billion in 2015, on a 4.4% year-over-year rise in revenue to $60.9 billion. UPS noted that it recorded a non-cash after-tax mark-to-market pension charge of $1.7 billion in the 2016 fourth quarter, which significantly affected its net profit and largely drove the year-over-year earnings decline. Revenue from UPS’s domestic package business rose 4.2% year-over-year in 2016 to ...

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