ATLANTA (AP) – United Parcel Service Inc. said Thursday that first-quarter profit rose 10 percent to $1.13 billion, helped by an increase in both ground shipments and next-day air deliveries in the United States.
The company beat Wall Street forecasts for profit, but revenue was lower than expected.
UPS is often considered a bellwether of the economy both in the U.S. and globally because of the number of shipments it handles between businesses and from businesses to consumers. The company’s e-commerce business has grown with the boom in online shopping. Lately UPS has seen mixed signals, with growth slowing in emerging economies.
UPS has been adjusting prices – for example raising prices on bulky packages that are lightweight but take up space in trucks. And it has been reducing costs with driver-routing software and other measures.
The Atlanta-based company said it earned $1.27 per share in the first quarter, compared with $1.12 per share a year earlier.
