FedEx Profit Rises on Higher Volume
- Share via
From Associated Press
FedEx Corp. reported that fiscal first quarter-profit rose modestly after an accounting change, but an increase in daily package volume helped the shipping company exceed analyst expectations.
Memphis, Tenn.-based FedEx earned $339 million, or $1.10 a share, up from $330 million, or $1.08, last year. Revenue for the quarter ended Aug. 31 rose 10% to $7.71 billion.
FedEx shares jumped $6.15 to $83.15.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
