ATLANTA (AP) — United Parcel Service Inc. today reported third-quarter net income of $1.96 billion.
On a per-share basis, the company said it had profit of $2.24. Earnings, adjusted for non-recurring costs, came to $2.28 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.
The package delivery service posted revenue of $21.24 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $20.08 billion.
UPS shares have increased 46% since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 5%. The stock has risen 47% in the past 12 months.