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UPS Delivers

 (Image source: pennstatermag)

United Parcel Service, Inc. (NYSE:UPS) delivered on third quarter earnings! The company reported net income of $1.1 billion, or $1.16 per share, beating estimates by one penny. Compared to the same period last year, profits are up $631 million. UPS is doing it with increased domestic and international shipping along with cost-cutting moves. For example, international volume rose 6.7 percent and domestic ground grew 3 percent. As a result, revenue grew 5 percent for the quarter. UPS is hiring more seasonal workers for the upcoming holiday season as it expects online sales to grow. In addition, the company is anticipating pick-up volume to 10 percent for Cyber Monday. Strong holiday volume is desperately needed for retailers!