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United Parcel Service Inc. (NYSE: UPS) reported its third-quarter results before the market opened Friday as $1.32 in earnings per share and $14.29 billion in revenue. That was against Thomson Reuters consensus estimates of $1.29 in earnings per share and $14.20 billion in revenue. In the third quarter of the previous year, UPS posted earnings of $1.16 per share and revenue of $13.52 billion.

The company reaffirmed full-year guidance of $4.90 to $5.00 in earnings per share, compared to consensus estimates of $4.95 in earnings per share and $58.09 billion in revenue. UPS expects its shipments during the month of December to climb over 11% from the prior year, and so the company committed an additional $175 million in operating expense and $500 million in capital expenditures to enhance its capabilities and prepare the network for peak future volume growth.

Net income for the third quarter was $1.2 billion, compared to the same period in the previous year of $1.1 billion.

Each segment of UPS recorded its numbers as follows:

• U.S. Domestic Package revenue increased 5.3% to $8.7 billion, with an operating profit of $1.3 billion. Daily package volume improved 6.9%, but total revenue per package declined 1.5%.
• International Package revenue increased 5.5% to $3.2 billion, with an operating profit of $460 million. Currency-neutral revenue per package declined 1.0%.
• Supply Chain and Freight revenue increased 7.4% to $2.4 billion, with an operating profit of $215 million. UPS Freight revenue increased 7.9% to $810 million.

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Domestically during the quarter, UPS announced the expansion of its Access Point alternate delivery solution to New York City and Chicago. Plans were announced to add locations in other cities, in addition to more than 4,400 existing UPS Stores, by the end of 2015.

On the international side, UPS announced in early October that it would acquire the international e-commerce enabler i-parcel. The company’s experience and technology in cross-border e-commerce assists retailer in the United Kingdom and United States expand their reach to consumers in over 100 countries worldwide.

David Abney, CEO of UPS, said:

The solid performance we delivered this quarter establishes our ability to stay ahead of market growth and generate positive operating leverage. We continue making investments in technology and expanding our capabilities around the world to ensure we provide the long-term solutions customers demand.

Deutsche Bank reiterated a Buy rating for UPS, but lowered its price target to $117 from $120, on October 14. On October 6, Zacks reiterated a Neutral rating for UPS with a price target of $104.

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Shares of UPS closed Thursday up 1.43% at $100.48. Following the release of the earnings report, the initial reaction in Friday’s premarket was positive and shares were up over than 1% at $101.81.

The stock has a consensus analyst price target of $109.95 and a 52-week range of $93.19 to $105.37. The company has a market cap of over $91 billion.