UPS 1Q profit rises 7 percent

DALLAS (AP) ? Consumers who kept spending after the holidays ended are helping to boost profit at UPS.

United Parcel Service Co. said Thursday that first-quarter profit rose 7 percent to $1.04 billion.

The company's adjusted profit was $1.04 per share, better than the $1 per share that analysts expected.

Daily package volume in the U.S. increased and company revenue rose 2 percent to $13.43 billion, although that was a bit less than Wall Street predicted.

Atlanta-based UPS is sticking with its forecast of 2013 adjusted earnings of $4.80 to $5.06 per share. Analysts expect $4.98 per share.

Source: http://news.yahoo.com/ups-1q-profit-rises-7-percent-121123003--finance.html

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