Stock Market News
FedEx profit rises as challenges persist
2022.06.23 23:31
A FedEx worker delivers packages in Manhattan, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly
LOS ANGELES (Reuters) – FedEx Corp (NYSE:FDX) reported higher quarterly earnings on Thursday, despite persistent labor woes and softening volume in its Ground unit that handles the bulk of its e-commerce home deliveries and drives the company’s growth.
Memphis, Tennessee-based FedEx’s adjusted net income for the fiscal fourth quarter ended May 31 was $1.8 billion, or $6.87 per share, up from $1.36 billion, or $5.01 per share, a year earlier.
Revenue grew to $24.4 billion from $22.6 billion a year earlier.
