UPS Earns $2.7B In 2nd Quarter As Shipping Surge Continues

United Parcel Service, Inc. (UPS) had another strong quarter with shipments to homes continuing at a brisk pace, though revenue at home, its biggest market, was a little weaker than some had expected.

Shares slipped about 1% before the opening bell Tuesday, the Associated Press (AP) reported.

Domestic revenue still grew 10.2% to $14.40 billion in the second quarter, with per-piece revenue rising 13.4%. However, Wall Street had projected a domestic revenue of $14.76 billion.

Revenue from international operations spiked 30% to $4.82 billion, which was better than the $4.57 billion analysts had expected.

For the three months ended June 30, UPS earned $2.68 billion, or $3.05 per share. Stripping out one-time costs, earnings were $3.06 per share, easily beating the $2.75 for which Wall Street was looking.

A year earlier, the Atlanta company earned $1.77 billion, or $2.03 per share. Overall revenue was $23.42 billion, also better than expected.

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