ATLANTA (AP) — UPS is reporting strong quarterly profits and revenue with demand for next day delivery soaring.
The Atlanta package delivery service on Wednesday posted second-quarter net income of $1.69 billion, or $1.94 per share. Earnings, adjusted for non-recurring costs, were $1.96 per share, or 3 cents better than Wall Street had expected, according to a survey by Zacks Investment Research.
Revenue of $18.05 billion also exceeded projections.
Next day air volume jumped more than 30% during the period compared with last year.
UPS Inc. stuck to its full year outlook for per share earnings of $7.45 to $7.75.