Online shopping drives UPS profit higher in 2Q
Atlanta — Robust shopping at places like Amazon.com drove earnings up 9 percent at UPS during the second quarter.
The Atlanta company said online shopping boosted demand for its air and ground-shipped packages, helping U.S. revenue rise 8 percent from a year ago to $9.75 billion.
The company on Thursday reported net income of $1.38 billion, or $1.58 per share, in the three months ending June 30. That beat expectations for earnings of $1.46 per share, according to Zacks Investment Research. In the same period a year ago, UPS reported net income of $1.27 billion, or $1.43 per share.
Revenue rose 8 percent to $15.75 billion, beating analyst expectations of $15.48 billion.
For the full year, UPS said it still expects earnings in the range of $5.80 per share and $6.10 per share.
Shares of United Parcel Service Inc. rose 5 cents to $112.30 before the stock market opened.
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