Online Shopping Surge Delivers Record Revenue For UPS

By JOSEPH PISANI and MICHELLE CHAPMAN AP Business Writers
NEW YORK (AP) — A surge in online shopping helped UPS post record revenue during the last three months of 2020. UPS and other delivery companies have benefited as more people shop online during the pandemic and avoid going to physical stores. Not only was the Atlanta company working to deliver gifts during the holiday season, but it also started shipping COVID-19 vaccines at the same time. UPS said the daily average number of packages it delivered rose nearly 11% during the quarter. Revenue rose 21% to $24.9 billion in the three months ending Dec. 31. It posted adjusted earnings of $2.66 per share, easily beating Wall Street expectations.