FedEx the air-express courier said today quarterly earnings jumped 47 per cent on healthy demand throughout its businesses and global markets.
For the fiscal fourth quarter ended May 31st, the transport group said profit rose to $412 million, or $1.36 a share, from $280 million, or 92 cents a share, a year earlier.
Excluding business realignment costs and the benefit of a tax rate change, the company said it earned $1.33 per share.
The profit was in line with guidance from FedEx, which raised its earnings forecast on June 10.
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Fourth-quarter revenue, which benefited from the acquisition of the Kinko's chain of business centers, totaled $7.04 billion, up 21 per cent from $5.83 billion a year earlier.