UPS increases Q2 income, revenues amid e-commerce boom

The Atlanta-based parcel giant recorded a net income of $1.38 billion on revenues of $15.75 billion for the quarter, as its U.S. Domestic Segment thrived from growing demand for e-commerce deliveries.    UPS recorded a net income of $1.38 billion for the second quarter of 2017, a 9.1 percent boost from last year’s second quarter as revenues rose 7.7 percent to $15.75 billion, according to the company’s latest financial statements.
   The Atlanta-based parcel giant’s diluted earnings per share stood at $1.58 for the quarter, compared to $1.43 per diluted share for the second quarter of 2016.
   In the U.S. Domestic Segment, the operating profit totaled $1.4 billion for the quarter, up 13.1 percent year-over-year, as revenues rose 8.1 percent to $9.75 billion, fueled by growing demand for e-commerce deliveries.
   Meanwhile, the International Segment posted an operating profit of $583 million for the quarter, down 4.9 percent year-over-year. The segment’s revenues increased by 2.8 percent year-over-year to $3.16 billion.
   The Supply Chain and Freight Segment recorded an operating profit of $238 million for the quarter on revenues of $2.84 billion, up 24 percent and 12.1 percent year-over-year, respectively.