U.S. Markets closed

UPS quarterly profit rises 16% on strong e-commerce demand

Oct 22 (Reuters) - United Parcel Service Inc reported a 16% rise in third-quarter profit on Tuesday, benefiting from strong e-commerce demand and rival FedEx Corp's breakup with Amazon.com Inc.

Net income was $1.75 billion, or $2.01 per share, in the quarter ended Sept. 30, compared with $1.51 billion, or $1.73 per share, a year earlier.

Revenue rose 5% to $18.32 billion. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli)