UPDATE: UPS Posts Higher Q3 Profit

United Parcel Service

reported a rise in its third-quarter net income. UPS's quarterly net profit surged to $1.1 billion, or $1.16 per share, from $469 million, or $0.48 per share, in the year-ago period. Its total revenue climbed 3.4% to $13.52 billion. However, analysts were expecting earnings of $1.15 per share on revenue of $13.59 billion. UPS's deliveries increased 4.6% to more than 1 billion packages. UPS shares gained 2.18% to $96.55 in pre-market trading.