FedEx 4Q Profit Rises On Growth In Ground Shipping - FOX13 News, WHBQ FOX 13

FedEx 4Q Profit Rises On Growth In Ground Shipping

Posted: Updated:
  • FedEx 4Q Profit Rises On Growth In Ground ShippingMore>>

  • Get FOX13 Breaking News on your mobile device

    Get FOX13 Breaking News on your mobile device

    Friday, October 4 2013 3:43 PM EDT2013-10-04 19:43:45 GMT
    Get breaking news alerts on your mobile device direct from the FOX13 news desk. On average, you could get as many as three to five alerts on a busy day, as the news merits. Just fill out the form below
    Get breaking news alerts on your mobile device direct from the FOX13 news desk. On average, you could get as many as three to five alerts on a busy day, as the news merits. Just fill out the form below
By The Associated Press
FedEx Corp. says its quarterly profit rose as growth in online shopping gave its ground-shipping business a lift.

The earnings of $2.46 per share beat Wall Street's forecast by a dime. Revenue also topped expectations.

The package-delivery company said Wednesday that it earned $730 million in its fiscal fourth quarter, which ended May 31, compared with $303 million a year ago, when write-downs weighed on the results.

Revenue rose 3.5 percent to $11.84 billion. Analysts expected $11.66 billion, according to FactSet.

Revenue in the ground-shipping business grew 8 percent, helped by gains in e-commerce. That helped offset slower growth in FedEx Express, which accounts for more than half the company's revenue.

Its shares rose 4 percent in premarket dealings.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

WHBQ-TV | Fox 13
485 S. Highland St.
Memphis, TN 38111

Main Station: (901) 320-1313
Newsroom: (901) 320-1340

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices