UPS 1Q Profit Rises on Higher Margins, Ecommerce

Package delivery company United Parcel Service on Thursday reported a higher quarterly net profit, citing a rise in ecommerce packages in its crucial U.S. domestic business and improved margins on the back of cost cutting.

The Atlanta-based company posted first-quarter net income of $1.13 billion or $1.27 per share, up 10 percent from $1.03 billion or $1.12 per share a year earlier.

Analysts had on average expected earnings per share for the quarter of $1.22.

(Reporting By Nick Carey; Editing by Chizu Nomiyama)