United Parcel Service (UPS) Revenue — Quarter Ended Mar 31, 2025
Revenue declined in the first quarter compared with both the immediately preceding quarter and the same quarter one year earlier. The sequential drop was steeper than the year-over-year decline.
Key takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue declined in the first quarter compared with both the immediately preceding quarter and the same quarter one year earlier. The sequential drop was steeper than the year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$21.5B
Revenue reported for this quarter.
Quarter-over-quarter
-14.8%
Change from the immediately preceding quarter.
Year-over-year
-0.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$90.9B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2024 | $21.8B | -1.1% |
| Sep 30, 2024 | $22.2B | +5.6% |
| Dec 31, 2024 | $25.3B | +1.5% |
| Mar 31, 2025 | $21.5B | -0.7% |
Revenue performance
Reported revenue decreased from the prior quarter, continuing a downward trend after a seasonal peak in the fourth quarter.
Quarterly comparison
Revenue was lower than the same quarter last year, though the year-over-year decline was modest. The sequential comparison showed a more pronounced contraction.
What to watch
The filing notes a deliberate shift toward higher-yielding volume and a planned reduction in volume from the largest customer.