UPS profits up, revenues down

Sandy Springs-based shipping giant UPS reported more than $1.2 billion in profit for the third quarter, up 3.5 percent.

But it said revenue was down due to lower fuel surcharges and currency exchange rates.

UPS said it had an increase in shipments in the third quarter compared with a year ago, handling 1.1 billion packages, up 1.9 percent. It also increased base rates, though the company said that was offset by changes in the mix of customers and products in its domestic business.

Overall, third quarter revenue fell 0.4 percent to $14.2 billion, led by a decline in international package revenue.

“Third quarter results reflect strong progress on our long-term initiatives despite uneven economic conditions,” said UPS CEO David Abney in a written statement.