United Parcel Service (UPS) has posted a 3.5% increase in third-quarter net income to $1.26 billion compared to $1.21 billion in the year-ago period. Revenue dipped by 0.4% to $14.24 billion. Operating expenses declined slightly by 0.7% to $12.25 billion, while total operating profit for the quarter rose 1.5% to $1.98 billion.
For the nine months to September, 30, UPS is reporting a 36.2% rise in net profit to $3.51 billion.
“[The] third quarter results reflect strong progress on our long-term initiatives despite uneven economic conditions,” UPS CEO David Abney said. “UPS continued its positive momentum with the third consecutive quarter of improved growth and earnings per share … during the third quarter, our international segment again produced double digit growth in operating profits.”