United Parcel Service (UPS) shares ros𓆉e as the company reported third-quarter results above analysts' expectations Thursday mo꧟rning.

The shipping giant reported revenue of $22.2 billion, better than the $21.94 billion consensus estimate of analysts compiled by Visible Alpha. 澳洲幸运5开奖号码历史查询:Net income came in at $1.54 billion, or $1.80 per share, above projections, which called for $1.36 billion and $1.59 per share.

Thursday's results mark the first time in 澳洲幸运5开奖号码历史查询:nearly two years that UPS returned to posting year-over-year revenue and profit gains, after it and 澳洲幸运5开奖号码历史查询:shipping rival FedEx (FDX) each reported 🌠declines following peaks ꦦin shipping demand during the pandemic.

"After a challenging 18-month period, our company returned to revenue and profit growth," UPS 澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Carol Tomé said. "Peak season is nearly upon us, and we are ready to deliver anothe🎉r successful holiday season and continue the progress we demonstrated in the third quarter."

UPS Lowers FY Revenue Outlook

The company also lowered its full-year revenue outlook, estimating total revenue of about $91.1 billion, down from $93 billion previously.

UPS shares, which rose over 5% soon after the results were released, are down a bit over 10% this year. Earlier this week, they fell 3% as the stock was downgraded to "underweight" by Barclays analysts, who cited FedEx's disappointing 澳洲幸运5开奖号码历史查询:recent earnings report and outlook, as well as shipping competition from Amazon (AMZN), as reasons to be cautious.

UPS is gaining a new revenue stream for the fourth quarter and beyond, as its new contract to be the 澳洲幸运5开奖号码历史查询:primary air cargo provider of the U.S. Post🍌al Service started in late September.