Earnings

UPS shares soar 10% after reporting a surge in quarterly revenue on pandemic-led demand

A United Parcel Service worker delivers packages on April 29, 2020 in New York City.

Stephanie Keith | Getty Images

United Parcel Service on Thursday reported a 13.4% rise in quarterly revenue, as the Covid-19 pandemic led to a surge in residential volumes and healthcare shipments.

Shares of UPS surged 10% in the premarket following the report.

Atlanta-based UPS reported a net income of $1.77 billion, or $2.03 per share, in the quarter ended June 30, compared with $1.69 billion, or $1.94 per share, a year earlier.

Revenue rose to $20.46 billion from $18.05 billion.

CNBC contributed to this report.

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