UPS 4Q profit jumps on international growth

NEW YORK (AP) — UPS says its fourth-quarter net income jumped 48 percent as shipments grew across the globe during the critical holiday season.

The world's largest shipping company said business was particularly strong in China and Germany, two countries that rely heavily on exports.

UPS expects 2011 earnings to rise between 16 and 22 percent, topping the pre-recession levels of 2007.

The Atlanta company said Tuesday it earned $1.12 billion, or $1.11 per share, in the last three months of 2010. That compares with net income of $757 million, or 75 cents per share a year earlier.

Revenue rose 8 percent to $13.42 billion.

FactSet Research says analysts forecast a profit of $1.05 per share on revenue of $13.32 billion.

For 2011, UPS expects earnings between $4.12 and $4.35.