The Atlanta company said it had net income of $1.55 per share. United Parcel Service Inc. is reporting first-quarter earnings of $1.35 billion.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The package delivery service posted revenue of $17.11 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $16.44 billion.UPS expects full-year earnings in the range of $7.03 to $7.37 per share.
UPS shares have declined nearly 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has dropped slightly more than 1 percent. The stock has climbed 1 percent in the last 12 months.