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FedEx profit soars with pandemic-fueled delivery demand

FedEx profit soars with pandemic-fueled delivery demand

FILE PHOTO: A Federal Express truck is shown in Los Angeles, California, U.S., October 16, 2019. REUTERS/Mike Blake

REUTERS: US delivery firm FedEx on Thursday (Mar 18) said quarterly profit jumped on higher prices and surging volume from pandemic-fueled home e-commerce deliveries.

Fiscal third-quarter adjusted net income at the Memphis-based company increased to US$939 million, or US$3.47 per share, from US$371 million, or US$1.41 per share, a year earlier. Revenue for the quarter ended Feb. 28 grew 23 per cent to US$17.5 billion.

Source: Reuters

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