Domestic shipping drives UPS profit

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ATLANTA (AP) - Domestic shipping is helping to drive revenue higher at UPS and third-quarter profits rose 20 percent, but shares are down before the opening bell with U.S. markets falling again.

The Atlanta package delivery service reported a profit Wednesday of $1.51 billion, or $1.73 per share. Earnings, adjusted for non-recurring costs, were $1.82 per share, which is in line with expectations, according to a survey by Zacks Investment Research.

Revenue was $17.44 billion, about what industry analysts were expecting.

UPS expects full-year earnings in the range of $7.03 to $7.37 per share.

Shares of UPS Inc. are down about 2 percent in early trading.

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A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UPS at https://www.zacks.com/ap/UPS

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