UPS deals with ‘elephant in the room,’ as Amazon accounted for more than $ 11 billion in 2020 revenue

United Parcel Service Inc. UPS,
+ 2.12%
3.7% increase in morning trade, enough to accelerate average DowT Transport DJT,
+ 1.67%
winners, after the package delivery giant reported better – than – expected fourth – quarter results. In the post-employment conference call with analysts, CEO Carol Tomé said, “So let ‘s face the elephant in the room, which is out there the biggest customer. “Out of 19 million customers, Tomé told Amazon.com Inc. AMZN,
+ 1.74%
was the largest, with the e-commerce giant’s share of total revenue rising to 13.3% in 2020 from 11.6% in 2019. With UPS reported total revenue in 2020 of $ 84.63 billion, that shows that Amazon generated $ 11.26 billion in revenue by 2020, up from $ 8.59 billion a year ago. Shares of UPS have gained 1.6% over the past three months, while Amazon stock has advanced 13.9%, Dow Transport has handled 10.8% and Dow Jones industry average DJIA,
+ 1.70%
on climbing 13.4%.