UPS managed to boost its volume in the U.S. for the first time since 2022 during its second quarter, but profit and revenue fell short of Wall Street’s expectations partly due to a hefty charge.

UPS will cut 12,000 jobs and released a revenue outlook for this year that sent its shares down sharply.

UPS, whose brown delivery trucks have become omnipresent on neighborhood streets during the pandemic, is reporting strong profits and revenue in its most recent quarter. (AP Photo/Wilfredo Lee, File)ATLANTA – Profit and revenue are rising at UPS, whose brown delivery trucks have become omnipresent on neighborhood streets during the pandemic, but so are costs. UPS shares fell 8.8%, their biggest one-day percentage drop in nearly six years. Unlike the domestic package business, profit rose in the company's international package and freight units. UPS shares have nearly doubled since May, reflecting the pickup in the delivery business.