Small Package, China Sectors Spur UPS Income Growth
Based on the strong quarter, UPS raised its performance outlook and projected full-year earnings to grow 20 percent. Its growth estimate in April had been 15 percent to 18 percent.
UPS reported net income of $818 million, up from $692 million last year.
Revenue for the quarter increased 7.8 percent to $8.87 billion, and average daily package volume rose 500,000 to 13.6 million. International package revenue climbed 13 percent, led by China, where volume rose 70 percent.