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UPS First Quarter Profit Surges 33% as Adjusted Net Beats View (UPS)

Package delivery giant United Parcel Service, Inc. ( UPS

) on Tuesday said its first quarter profit rose 33% from last year, helped by strong international growth and increased operating leverage.

The Atlanta-based company reported first quarter net income of $533 million, or 53 cents per share, compared with $401 million, or 40 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 71 cents per share.

Revenue rose more than 7% from last year to $11.73 billion.

On average, Wall Street analysts expected a smaller profit of 69 cents per share, on lower revenue of $11.65 billion.

The company also reiterated its full-year profit forecast of $3.05 to $3.30 per share.

UPS shares were mostly flat in premarket trading Tuesday.

The Bottom Line

We have been recommending shares of UPS since Jan.8, when the stock was trading at $57.41. The company has a 2.74% dividend yield, based on last night's closing stock price of $68.52.

United Parcel Service, Inc. ( UPS ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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