United Parcel Service
posted third-quarter earnings that beat analysts' estimates by 2 cents.
UPS earned $702 million, or 60 cents a share, compared with $577 million, or 52 cents a share, in last year's third quarter. A
First Call/Thomson Financial
poll of 17 analysts produced a consensus estimate of 58 cents a share.
Revenue rose 9.7% to $7.4 billion from $6.7 billion reported for the same period a year earlier.
UPS is "confident it will enjoy a solid fourth quarter and holiday shipping season." Holiday volume is expected to produce a one-day peak exceeding 19 million deliveries.
Shares of UPS were recently trading up $7.31, or 13.8%, to $60.38 on the
New York Stock Exchange