UPS Surges as Jump in Foreign Sales Defies Rising Trade Tensions
- ‘Emerging discord’ hasn’t weakened world economy, says CEO
- Results exceed analysts’ estimates for the second quarter
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United Parcel Service Inc. rose the most in almost seven years as international sales surged and the courier’s ambitious investment plans started to win over investors.
Overseas revenue again posted double-digit growth despite heightened global trade tensions, rising 14 percent in the second quarter, UPS said Wednesday as it reported earnings. That pushed total sales above analysts’ estimates. In the U.S., revenue gained and price increases picked up as the company rushed to profit from the rise of online shopping.