UPS
has been experiencing a boom in e-commerce deliveries as
consumers staying at home during the pandemic order everything
from exercise bikes to sofas.
Rival Deutsche Post last month raised its medium-term financial
targets, predicting that the boom in ecommerce driven by the
coronavirus outbreak would continue and world trade would
gradually recover.
UPS, which is also delivering COVID-19 vaccines, said revenue in
its U.S. domestic unit rose 22.3%, led by growth from small- and
medium-sized businesses.
Excluding items, the company earned $2.77 per share.
Total revenue rose 27% to $22.9 billion, beating estimates of
$20.49 billion, according to Refinitiv data.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Amy Caren
Daniel)
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