An increase in online shopping helped boost
profit and revenue at UPS, the world's largest package-delivery
company said Thursday.
Profit climbed 6 percent to $1 billion after deliveries in the US of items such as clothing and electronic devices went up 4.4 percent. Sales were up 2.3 percent to $13.4 billion.
The company handles more than 16 million packages and envelopes a day worldwide, according to Bloomberg news.
While profits in the US unit of the company were up, UPS's international package unit's earnings dropped 4.2 percent, the company said. That excluded charges from the company's attempt to purchase TNT Express.
UPS paid TNT a fee of $261 million (200 million euros) in the first quarter after dropping the 5.16 billion-euro deal when European regulators moved to block it, Bloomberg said.
"The US business seems to be doing just fine, but international markets are weak on volumes and yields," said Logan Purk, an analyst at Edward Jones and Company.
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