FedEx Profit Jumps 41% on Boost in Shipments
FedEx Corp. said quarterly profit rose 41%, the largest gain in a year and a half, as it boosted shipments in Asia and curbed labor costs. The stock rose 4.6%.
Net income in the fiscal third quarter climbed to $207 million, or 68 cents a share, from $147 million, or 49 cents, a year earlier, the Memphis, Tenn.-based company said. Revenue increased 9.2% to $6.06 billion.
Shares of FedEx rose $3.16 to $71.59 on the New York Stock Exchange, the biggest percentage gain since Jan. 12.
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