United Parcel Service Inc. (UPS) announced an increase in its third-quarter profits compared to the same timeframe last year, surpassing Wall Street projections. The company's net income reached $1.539 billion, or $1.80 per share, a rise from the previous year's $1.127 billion, or $1.31 per share.
After adjustments, UPS reported earnings of $1.503 billion, or $1.76 per share. This exceeded the average analyst forecast of $1.63 per share, as gathered by Thomson Reuters, with analyst projections typically excluding extraordinary items.
In revenue terms, the company experienced a growth of 5.2%, reaching $22.2 billion, compared to $21.1 billion the previous year.
A summary of UPS's earnings under Generally Accepted Accounting Principles (GAAP) for the third quarter is as follows:
- Net Income: $1.539 billion as opposed to $1.127 billion the previous year.
- Earnings Per Share (EPS): $1.80 compared to last year's $1.31.
- Revenue: $22.2 billion compared to $21.1 billion in the previous year.
