FedEx Profit Beats Estimates, Orders 27 Jets - Bloomberg
FedEx's (FDX) better-than-expected fiscal second-quarter earnings report released Thursday is more proof that the U.S. economic recovery is for real.
Net income at the Memphis, Tenn., parcel delivery company rose 76% to $497 million, or $1.57 per share, as more consumers used FedEx Home Delivery and FedEx SmartPost services during the holiday season. Analysts surveyed by Bloomberg had expected earnings of $1.53. Revenue rose 10% to $10.59 billion, in line with estimates.