UPS Shares Rise As Earnings Beat Estimates

By Andrea Riquier Markets MarketWatch Pulse

United Parcel Service, Inc. shares jumped 1.2% in premarket trade Thursday after the company announced quarterly results that beat estimates. The worldwide logistics company said it had net income of $1.38 billion, or $1.59 per share, in the quarter, up from $1.27 billion and $1.43 per share in the prior-year period. Adjusted per-share earnings were $1.58, higher than the FactSet consensus of $1.47. Revenues were $15.8 billion in the quarter, compared to $14.6 billion a year ago, driven largely by domestic e-commerce activity. "We continue to invest in our network to expand our capabilities, our market presence and our global reach," CEO David Abney said. The stock has declined 2% in the year-to-date, while the S&P 500 is up 9.9%.

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