TheGuat
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AP
UPS 3Q Profit Rises
Thursday October 19, 8:21 am ET
By Daniel Yee, Associated Press Writer
UPS Says 3Q Profit Rose Nearly 9 Percent on 10.5 Percent Increase in Revenue
ATLANTA (AP) -- UPS Inc., the world's largest shipping carrier, reported Thursday its profit rose 8.9 percent in the third quarter, beating Wall Street expectations.Its shares rose $2.09, or 2.9 percent, to $74.50 in premarket trading.
The Atlanta-based company said it earned $1.04 billion, or 96 cents a share, for the three months ended Sept. 30, an 8.9 percent increase from $953 million, or 86 cents a share, for the same period a year ago.
Analysts surveyed by Thomson Financial were expecting earnings of 90 cents a share.
Revenue rose 10.5 percent to $11.66 billion, up from $10.55 billion a year earlier.
UPS said third-quarter daily ground revenue increased 5.5 percent, while average daily volume for next-day air rose 4.9 percent. Total international package revenue grew 17.4 percent, UPS said.
For the first nine months of the year, UPS, also known as United Parcel Service Inc., earned $3.07 billion, or $2.82 a share, compared to a profit of $2.82 billion, or $2.52 a share, for the same period a year ago. Nine-month revenue rose 14 percent to $34.92 billion from $30.63 billion a year earlier.
UPS Inc.: http://www.ups.com
UPS 3Q Profit Rises
Thursday October 19, 8:21 am ET
By Daniel Yee, Associated Press Writer
UPS Says 3Q Profit Rose Nearly 9 Percent on 10.5 Percent Increase in Revenue
ATLANTA (AP) -- UPS Inc., the world's largest shipping carrier, reported Thursday its profit rose 8.9 percent in the third quarter, beating Wall Street expectations.Its shares rose $2.09, or 2.9 percent, to $74.50 in premarket trading.
The Atlanta-based company said it earned $1.04 billion, or 96 cents a share, for the three months ended Sept. 30, an 8.9 percent increase from $953 million, or 86 cents a share, for the same period a year ago.
Analysts surveyed by Thomson Financial were expecting earnings of 90 cents a share.
Revenue rose 10.5 percent to $11.66 billion, up from $10.55 billion a year earlier.
UPS said third-quarter daily ground revenue increased 5.5 percent, while average daily volume for next-day air rose 4.9 percent. Total international package revenue grew 17.4 percent, UPS said.
For the first nine months of the year, UPS, also known as United Parcel Service Inc., earned $3.07 billion, or $2.82 a share, compared to a profit of $2.82 billion, or $2.52 a share, for the same period a year ago. Nine-month revenue rose 14 percent to $34.92 billion from $30.63 billion a year earlier.
UPS Inc.: http://www.ups.com
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