RTTNews | Oct 26, 2021 10:40AM EDT

10:40 Tuesday, October 26, 2021 (RTTNews.com) - Georgia-based package delivery -company, United Parcel Service, Inc. (UPS), is up 7% in the Tuesday market after the company announced an improved net income in the third quarter. The earnings per share also topped Street estimates.

Net earnings, reported by the company was $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 an average of twenty-five analysts polled by Thomson Reuters at $2.54 per share. Analysts' estimates typically exclude special items.

UPS also announced revenue for the quarter increased 9.2% to $23.2 billion from $21.238 billion last year. The analysts' estimate was or $22.56 billion.

The company has also raised its operating margin forecast to 13% from 12.7%, provided previously.

The stock is currently trading at $217.51, up $13.61 or 6.67% from the previous close at $203.90. The stock opened at $214.01 in the morning. In the 52-week period, the shares have ranged between $154.76 and $220.22 per share.

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