FedEx 3Q Profit Tops Street View, Revenue Slightly Short

Industrials Reuters

FedEx Corp reported a higher quarterly profit, citing improved yields and record holiday shipping, and forecast further advances in the current quarter.

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The world's second-largest package delivery company said on Thursday that net earnings in the third quarter ended on Feb. 29 rose to $521 million, or $1.65 per share, from $231 million, or 73 cents a share, a year earlier.

Adjusted profit rose to $1.55 per share from 81 cents.

Revenue increased 9 percent to $10.56 billion from $9.66 billion. Analysts on average were expecting $10.6 billion, on average, according to Thomson Reuters I/B/E/S.

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