UPS says post-holiday spending by consumers helped boost 1Q profit by 7 per cent over last year
DALLAS – Consumers who kept spending after the holidays ended are helping to boost profit at UPS.
United Parcel Service Co. said Thursday that first-quarter profit rose 7 per cent to $1.04 billion.
The company’s adjusted profit was $1.04 per share, better than the $1 per share that analysts expected.
Daily package volume in the U.S. increased and company revenue rose 2 per cent to $13.43 billion, although that was a bit less than Wall Street predicted.
Atlanta-based UPS is sticking with its forecast of 2013 adjusted earnings of $4.80 to $5.06 per share. Analysts expect $4.98 per share.
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