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FedEx: Fiscal 2Q Earnings Snapshot

·1 min read

MEMPHIS, Tenn. (AP) _ FedEx Corp. (FDX) on Thursday reported fiscal second-quarter profit of $1.23 billion.

The Memphis, Tennessee-based company said it had net income of $4.55 per share. Earnings, adjusted for non-recurring costs, were $4.83 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.90 per share.

The package delivery company posted revenue of $20.56 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $19.33 billion.

FedEx shares have risen 93% since the beginning of the year, while the Standard & Poor's 500 index has climbed 15%. In the final minutes of trading on Thursday, shares hit $292.55, a rise of 79% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FDX at https://www.zacks.com/ap/FDX