UPS (UPS) and Sirius XM (SIRI) released their latest earnings reports before opening bell this morning. UPS reported earnings of $1.32 per share on $15.3 billion in revenue, against the Wall Street consensus estimates of $1.29 per share and $15.2 billion. In last year’s first quarter, the shipping company reported $1.27 per share in earnings on $14.4 billion in revenue.

Sirius XM reported earnings of 4 cents per share on $1.3 billion in revenue, both of which were in line with the consensus estimates. In the year-ago quarter, the satellite radio provider reported earnings of 3 cents per share on $1.2 billion in revenue.

UPS shares rise

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UPS said Domestic revenue rose 5% year over year to $9.5 billion on the back of an increase in package yield due to continuing growth in e-commerce demand. The company’s earnings increase was driven by a 22% improvement in its Supply Chain and Freight segment’s operating profits and strong performance in the International segment. International revenue rose to $3.1 billion, while Supply Chain and Freight Shipment revenues increased to $2.7 billion.

UPS said revenue in all segments and major product categories grew while fuel expenses jumped 43% year over year. Next Day Air shipments grew 3.9% domestically, while Deferred Air shipments increased 4.1%.

For the full year, the company reaffirmed its adjusted earnings outlook of $5.80 to $6.10 per share. The shipping company paid about $450 million to buy back 4.2 million shares during the first quarter.

UPS shares rose by as much as 0.82% to $108.50 in premarket trading.

Sirius XM shares fall

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Sirius XM said first quarter net income rose 20% to $207 million, while adjusted EBITDA increased 14% to $502 million. The company added 259,000 net self-pay subscribers during the quarter, hitting 31.6 million subscribers. Average revenue per user grew 2.3% year over year to $12.95.