(Reuters] -United Parcel Service Inc. reported on Tuesday higher-than-expected quarterly earnings. The parcel delivery firm raised prices to profit from an e-commerce boom.

Carol Tome was appointed Chief Executive Officer at UPS in June 2020. She has encouraged the company’s adoption of a “better than bigger” strategy that prioritizes profitable deliveries over quantity.

UPS is also more focused on those industry segments that produce higher revenues and profit. This includes healthcare businesses and small- to medium-sized business (SMBs).

Tome released a statement saying that the “agile network and continual execution of our strategy produced another quarter with strong financial performance which would put us on track to achieve our 2022 consolidated financial targets.”

The shares of Atlanta’s company rose by 3.4% during premarket trading

According to Refinitiv data, UPS reported adjusted earnings for the first quarter of 2003 at $3.05 per share compared to average analyst expectations of $2.88 per sharing.

Delivery company reiterated its full year revenue projection of $102 billion. The company expects to achieve a consolidated adjusted operating margin (about 13.7%) and an adjusted return on capital investment of above 30%.

UPS’ quarterly revenue beat expectations by beating $23.78 Billion, according to IBES data compiled from Refinitv.

The domestic segment saw an increase in revenue of 7.7%, to $15.1 million.

UPS stated that it would double its share purchaseback by 2022 and increase the annual target to $2 Billion.