UPS said Wednesday its profits rose 7.5 percent in the first quarter, though they were affected by the weakening U.S. economy. The company lowered its earnings guidance for the year.

The results reported for the most recent quarter were in line with Wall Street expectations.

The company said it earned $906 million, or 87 cents a share, in the January-March quarter, compared to a profit of $843 million, or 78 cents a share, in the year-ago period.

Revenue in the quarter rose 6.5 percent to $12.68 billion, compared to $11.91 billion recorded a year earlier.

UPS said it benefited from strong gains in its international operations.

But UPS also said it doesn’t expect the U.S. economy to strengthen in the second quarter. Shares fell $1.20, to $70.70 in premarket trading Wednesday.

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