United Parcel Service, the world’s largest package delivery company, reported a quarterly profit that beat estimates and forecast record-high profits in 2011, sending its shares up more than 4 percent.

Price increases last year and early this year, rising volume as the economy mends and technology that has boosted productivity are driving the company’s performance, analysts said.

UPS handles goods equivalent to 6 percent of the U.S. gross domestic product and 2 percent of global GDP in its trucks and planes, the company said.