FedEx Profit Up 53% on Rise in U.S. Shipments
From Bloomberg News
FedEx Corp., the No. 2 U.S. package carrier, posted a 53% rise in third-quarter profit on increased U.S. shipments as it took market share from competitors such as United Parcel Service Inc.
Net income rose to $317 million, or $1.03 a share, from $207 million, or 68 cents, a year earlier, the company said. Revenue increased 21% to $7.34 billion.
Shares of Memphis, Tenn.-based FedEx fell 9 cents to $96.84 on the New York Stock Exchange.
