UPS profit up, raises 2011 EPS forecast

By @ibtimes on

United Parcel Service Inc , the world's largest package delivery company, reported a higher quarterly profit on Tuesday and raised its 2011 earnings per share outlook.

The economic bellwether's first-quarter net income rose to $885 million from $533 million a year before, and earnings per share rose to 88 cents from 53 cents.

Revenue rose to $12.58 billion from $11.73 billion a year before. Analysts had expected $12.72 billion in revenue, on average, according to Thomson Reuters I/B/E/S.

(Reporting by Lynn Adler, editing by Gerald E. McCormick)

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