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BY Taylor Hatmaker

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UPS is breaking up with Amazon – and so far it’s paying off.

The delivery company issued its Q3 results on Tuesday, beating expectations and showing that scaling back its business schlepping packages for a major competitor was a smart gamble that could put its financials back on track.

“We’re driving more premium growth, improving revenue quality and mix, and creating greater operating leverage through a more efficient network,” CEO Carol Tomé said in the earnings call. “All of this is strengthening the underlying performance of our business.”

Investors were skittish about the shipping stalwart’s plan to sever much of its Amazon delivery business, but UPS just improved its outlook for the year, raising revenue expectations from $91.2 billion to $92.6 billion.…