UPS profit rises 7 percent on strong post-holiday season

Reuters

United Parcel Service Inc , the world's largest package-delivery company, reported a 7 percent rise in quarterly profit, helped by a stronger-than-expected post-holiday season in January.

Net income rose to $1.04 billion, or $1.08 per share, in the first quarter, from $970 million, or $1 per share, a year earlier.

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Excluding items, UPS earned $1.04 per share. Revenue rose 2.2 percent to $13.43 billion.

UPS dropped its $7 billion bid for Dutch delivery firm TNT Express in January after European regulators said they would veto the deal on antitrust concerns.

(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Supriya Kurane)