Higher shipping rates help UPS as Q3 results top Street

Published October 26, 2021 4:18 AM

ATLANTA (AP) — UPS’ third-quarter results beat analysts’ expectations, as consumers are paying higher rates to have the package delivery company fulfill their shipping needs. Shares rose 5% before the market open on Tuesday. Revenue for the Atlanta-based company improved to $23.18 billion from $21.24 billion. This topped the $22.61 billion that analysts predicted. In the U.S., revenue climbed 7.4% to $14.21 billion, helped by a 12% increase in revenue per piece. The performance was better than the $14.19 billion Wall Street was calling for.