UPS Q3 Profits Rise on Rebounding Volumes, Cost Cuts

United Parcel Service reported a rise in third-quarter profit on Thursday, as rebounding volumes ahead of the holiday season lifted revenues, while cost cuts helped offset the margin hit from consumers shifting to cheaper delivery options.

The parcel delivery firm, seen as a bellwether for the global economy, reported adjusted profit per share of $1.76, compared to last year's $1.57 per share.

Shares were up nearly 4% in premarket trading. (Reporting by Ananta Agarwal in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Pooja Desai)