FedEx revenue jumps as pandemic drives e-commerce bounce

FedEx revenue jumps as pandemic drives e-commerce bounce

REUTERS: U.S. package delivery company FedEx Corp posted a 13.5per cent rise in quarterly revenue on Tuesday, boosted by an increase in domestic residential shipments during the COVID-19 pandemic.

Adjusted net income rose to US$1.28 billion, or US$4.87 per share, in the first quarter ended Aug. 31, from US$800 million, or US$3.05 per share, a year earlier.

Revenue rose to US$19.3 billion from US$17 billion.

(Reporting by Sanjana Shivdas in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Arun Koyyur)

Source: Reuters

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