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UPS shares jump on strong fourth-quarter earnings as Covid drives online shopping

February 2, 2021


Shares of UPS jumped more than 4% in premarket trading Tuesday after the company reported better-than-expected revenue and profits over the busy holiday shopping season, reflecting a boom in online shopping due to the Covid-19 pandemic.

Revenue for the Atlanta-based logistics and delivery company jumped 21% to $24.9 billion during the fourth quarter ended Dec. 31, marking a record for UPS as it navigated unprecedented e-commerce sales over the holidays.

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