Business News
UPS nearly doubles quarterly profit
Jul 22, 2010, 16:47 GMT
New York - Shipping giant UPS said Thursday quarterly profit nearly doubled as an improved economy led to greater demand for its package delivery services.
Profits were 845 million dollars in the second quarter, as revenues rose 13 per cent to 12.2 billion dollars, the Atlanta, Georgia-based company said.
UPS was boosted by growth in international markets that outstripped the competition and the reorganization of its US operations. Domestic revenue rose 7 per cent and international revenue grew 23 per cent.
Logistical firms such as UPS are seen as a key barometer of the economic climate.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
