UPS delivers profit, revenue beat on e-commerce demand - CNBC
United Parcel Service reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery firm to raise shipping prices and cherry-pick more profitable customers.
The company also raised its full-year adjusted operating margin target to about 13% from about 12.7%, ahead of the holiday season.
Shares of Atlanta-based UPS were up about 2% before the opening bell.
UPS and rival FedEx Corp are delivering record number of e-commerce packages amid labor shortages since Covid-19 shifted shopping online.
United Parcel Service reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery firm to raise shipping prices and cherry-pick more profitable customers.
The company also raised its full-year adjusted operating margin target to about 13% from about 12.7%, ahead of the holiday season.
Shares of Atlanta-based UPS were up about 2% before the opening bell.
UPS and rival FedEx Corp are delivering record number of e-commerce packages amid labor shortages since Covid-19 shifted shopping online.