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Swift Transportation Co Inc Q1 Earnings Fall 16%

Swift Transportation Co Inc (SWFT) announced a profit for first quarter that declined from last year.

The company said its bottom line fell to $31.91 million, or $0.23 per share. This was down from $37.84 million, or $0.26 per share, in last year's first quarter.

The company said revenue for the quarter fell 4.9% to $0.97 billion. This was down from $1.02 billion last year.

Swift Transportation Co Inc earnings at a glance:

-Earnings (Q1): $31.91 Mln. vs. $37.84 Mln. last year.
-Earnings Decline (Y-o-Y): -15.7%
-EPS (Q1): $0.23 vs. $0.26 last year.
-EPS Decline (Y-o-Y): -11.5%
-Revenue (Q1): $0.97 Bln vs. $1.02 Bln last year.
-Revenue Change (Y-o-Y): -4.9%

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First quarter growth data from China gained the maximum focus this week as trends in the massive emerging economy impact its trading partners. Elsewhere, the IMF released its latest global macroeconomic projections. Read our story to find out why comments from the Fed Chair Powell damped rate cut expectations. Meanwhile, there was some survey data that kindled hopes of a recovery in manufacturing. In the U.K., inflation data for March revealed some confusing trends.

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