RTTNews | Oct 26, 2021 06:42AM EDT

06:42 Tuesday, October 26, 2021 (RTTNews.com) - Package delivery company United Parcel Service (UPS) on Tuesday announced net earnings of $2.329 billion or $2.65 per share in the third quarter, higher than $1.957 billion or $2.24 per share in the same quarter a year ago.

Excluding items, earnings of $2.71 per share beat the average estimate of twenty five analysts polled by Thomson Reuters at $2.54 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 9.2% to $23.2 billion from $21.238 billion last year. The consensus estimate was or $22.56 billion.

Looking forward, the company has raised its full-year adjusted operating margin target to about 13% from about 12.7%.

UPS shares are trading more than 3% higher in the pre-market at $211.06 The stock closed Monday's regular trade at $203.90, up $0.09 or 0.04%.

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