United Parcel Service

(UPS) - Get Report

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

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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

.