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Markets News

UPS profit rises 12% as pandemic spurs home deliveries

Oct 28 (Reuters) - United Parcel Service Inc posted an 11.8% rise in quarterly profit on Wednesday owing to a pandemic-fueled surge in home deliveries.

Net income rose to $2 billion, or $2.24 per share, in the quarter ended Sept. 30, compared with $1.75 billion, or $2.01 per share, a year earlier.

Revenue rose to $21.2 billion from $18.32 billion in the same period a year ago. (Reporting by Sanjana Shivdas in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Arun Koyyur)

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