UPS reports higher-than-expected profits in Q2 amid coronavirus

United Parcel Service (UPS), the largest parcel delivery company in the United States, said. The company posted second-quarter profit of $3.06 a share, beating analysts' expectations of $279 a share, and revenue of $234 billion. That was higher than analysts' estimates of $231.9 billion.


UPS also stated that pg The company's US core business revenue rose 10.2% in the second quarter, while overseas revenue jumped 30 percent, driven by the strength of its European business.


UPS said its second-quarter earnings and revenue were driven by e-commerce freight forwarding, airfreight. and transporting health goods such as the COVID-19 vaccine.


UPS CEO Carol Tomei said that The company focuses on cost control. and the implementation of strategies under the plan "better not bigger" with anticipation that The number of small and medium-sized businesses is increasing now. It will be a factor that will help boost UPS' revenue to increase in the future.