Package delivery company United Parcel Service on Thursday reported a higher quarterly net profit, citing a rise in ecommerce packages in its crucial U.S. domestic business and improved margins on the back of cost cutting.
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The Atlanta-based company posted first-quarter net income of $1.13 billion or $1.27 per share, up 10 percent from $1.03 billion or $1.12 per share a year earlier.
Analysts had on average expected earnings per share for the quarter of $1.22.
(Reporting By Nick Carey; Editing by Chizu Nomiyama)