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UPS Bullish on Holiday Season Quarter

United Parcel Services Inc. (UPS) reported 3.4% revenue growth for the fiscal third quarter, aided by higher number of international and domestic shipments. For the latest period, UPS posted net income of $1.1 billion or $1.16 a share compared to a profit of $469 million or 48 cents a share, in the year-ago period. Stripping out onetime items, the adjusted earnings came in at $1.06 a share, a penny above analysts’ consensus estimate, according to a poll conducted by Thomson Reuters. Revenue stood at $13.52 billion, missing analysts’ estimate of $13.6 billion. The package courier company said that it expects to handle more than 34 million packages globally on Dec 16, which is the most busy day during the holiday season quarter.

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