FedEx profit drops less than investors feared - Reuters
FedEx Corp profit fell 11.9 percent in the second quarter, less than investors had feared, as the No. 2 U.S. package delivery company struggled to improve demand at its air freight business.
The company reported fiscal second-quarter earnings of $438 million, or $1.39 per share, on Wednesday, compared with $497 million, or $1.57 per share, a year earlier.
Disruptions relating to Superstorm Sandy - which walloped the East Coast late in October and killed more than 130 people - pulled earnings down by about 11 cents per share.
FedEx Corp profit fell 11.9 percent in the second quarter, less than investors had feared, as the No. 2 U.S. package delivery company struggled to improve demand at its air freight business.
The company reported fiscal second-quarter earnings of $438 million, or $1.39 per share, on Wednesday, compared with $497 million, or $1.57 per share, a year earlier.
Disruptions relating to Superstorm Sandy - which walloped the East Coast late in October and killed more than 130 people - pulled earnings down by about 11 cents per share.