NEW YORK (Reuters) - United Parcel Service Inc reported a higher quarterly net profit on Thursday as revenue grew across its domestic, international and supply chain and freight segments.
Often seen as a bellwether of U.S. economic activity, UPS said revenue increased to $15.315 billion in the first quarter from $14.418 billion in the year-ago period.
Revenue at the company’s domestic segment rose 5 percent to $9.535 billion from $9.084 billion a year ago, with the company saying e-commerce demand was strong.
Like other package delivery companies, UPS has benefited from a rapid rise in e-commerce, but has struggled to bring down the extra costs associated with making stops at individual residences rather than at businesses.
The Atlanta-based company posted first-quarter net income of $1.158 billion, or $1.32 per share, up 2.4 percent from $1.131 billion, or $1.27 per share, a year earlier.
Analysts, on average, expected earnings per share of $1.29.
Reporting by Luciana Lopez in New York; Editing by Jeffrey Benkoe