UPS Results Ride the Surge in Online Shopping
By Paul Ziobro
Updated Jan. 31, 2019 10:32 a.m. ET
United Parcel Service Inc. UPS -0.03% posted higher revenue for the fourth quarter as it handled more packages and squeezed higher prices from shipments, even as costs tied to expanding the company’s network cut into profit.
The delivery giant said it expects its bottom line to improve this year, with operating profits up by double-digit percentages across all of its divisions after upgrades to its network start to pay off.
The results and outlook helped boost UPS shares 4.2% to $105.40, as the solid performance during the holiday season and higher prices showed progress the company is making in its turnaround plan.
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