United Parcel Service Beats Street, Delivers Upbeat Outlook

UPS posted earnings of $1.36 a share, beating analysts estimates of $1.29 and 14 cents higher than last year's $1.16 a share.

Author:: Scott Gamm
Publish date:: Oct 24, 2014 4:04 PM EDT

UPS reported strong third quarter earnings on Friday morning. The company posted earnings of $1.36 a share, beating analysts estimates of $1.29 and 14 cents higher than last year's $1.16 a share. As for the top line, revenue came in at $14.29 billion, eclipsing forecasts of $14.2 billion and last year's sales of $13.52 billion. The company also gave forecasts for this year's holiday shopping season, a critical time for UPS, saying they expect shipments delivered during December to rise 11 percent, compared to last year. It also has set aside an additional $175 million in operating expense and $500 million in capital expenditures to prep its infrastructure for the rise in demand during the holiday season. TheStreet's Scott Gamm reports from New York.