Demand for fast, online delivery drives UPS
UPS CEO, David P. Abney, on how Amazon has changed UPS.
ATLANTA (AP) — UPS is reporting strong third-quarter earnings with e-commerce driving volumes higher, particularly next-day service.
Next-day air delivery volumes jumped almost 24% in the three month period.
The Atlanta company on Tuesday reported net income of $1.75 billion, or $2.01 per share. Adjusted for non-recurring costs, per-share earnings were $2.07, a penny better than expected, according to a survey by Zacks Investment Research.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Revenue was $18.32 billion, also edging out expectations.
Yet United Parcel Service Inc. stuck to its full-year profit projection of $7.45 to $7.75 per share, and its stock is down almost 4% before the opening bell.
_____
Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.