UPS EARNS $2.7 BILLION BUT VOLUME DIPS AS STORES REOPEN
AppleMagazine|AppleMagazine #509
Free from the pandemic lockdowns of last year, more shoppers are venturing into stores and relying just a bit less on brown UPS trucks.

United Parcel Service said this week that it earned almost $2.7 billion in the second quarter. However, domestic volume was weaker than Wall Street expected, and the company’s shares tumbled nearly 7% in afternoon trading.

Higher rates helped the delivery giant boost revenue, but shipping volume fell nearly 1% worldwide and almost 3% in the United States.

Company executives said they couldn’t match the surge in online shopping and home deliveries during the height of the pandemic.

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