UPS Reports Higher Earnings in '98

Buoyed by the first-ever profit on its international operations, United Parcel Service turned in a stellar performance in 1998.

The Atlanta-based parcel carrier earned $1.7 billion on revenue of $24.8 billion, compared with net income of $909 million on revenue of $22.4 billion in 1997.

Prior year results where adversely affected by a 15-day labor strike.

UPS said domestic package operations generated revenue of $20.65 billion for the year, compared with $18.87 billion in 1997. Operating profits rose to $2.9 billion from $1.65 billion.

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