(Reuters) -United Parcel Service forecast fourth-quarter revenue above Wall Street's estimates on Tuesday, banking on price increases to offset soft business-to-business demand in the U.S. The company projected revenue to be about $24 billion. Analysts' on average were expecting quarterly revenue of $23.8 billion, according to data compiled by LSEG. Shares of the company were up 12% in premarket trading. The world's largest parcel delivery firm reported adjusted net income of $1.48 billion, or $1.74 per share, for the three months ended September 30, compared with $1.50 billion, or $1.76 per share, a year earlier. UPS and rival FedEx companies have lost volumes due to U.S. President Donald Trump's tariffs on a broad range of goods from China, as well as the elimination of duty-free treatment on low-value purchases from China-linked e-retailers including Temu and Shein. (Reporting by Abhinav Parmar in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Sriraj Kalluvila)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
