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Online shopping drives UPS profit higher in second quarter

ATLANTA (AP) — Robust shopping at places like Amazon.com drove earnings up 9 percent at UPS during the second quarter.

The Atlanta company said online shopping boosted demand for its air and ground-shipped packages, helping U.S. revenue rise 8 percent from a year ago to $9.75 billion.

The company on Thursday reported net income of $1.38 billion, or $1.58 per share, in the three months ending June 30. That beat expectations for earnings of $1.46 per share, according to Zacks Investment Research. In the same period a year ago, UPS reported net income of $1.27 billion, or $1.43 per share.

Revenue rose 8 percent to $15.75 billion, beating analyst expectations of $15.48 billion.

For the full year, UPS said it still expects earnings in the range of $5.80 per share and $6.10 per share.

Shares of United Parcel Service Inc. rose 5 cents to $112.30 before the stock market opened.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UPS at https://www.zacks.com/ap/UPS

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Keywords: United Parcel Service, Earnings Report, Priority Earnings

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