FedEx tops Street 4Q forecasts
(AP) — Shares of FedEx Corp. rose in late trading Tuesday after the company's latest quarterly profit beat Wall Street expectations on higher rates and an increase in deliveries.
FedEx is being lifted by the growth in online shopping, and executives predicted another season of record pickups and deliveries later this year.
Excluding pension valuations, restructuring costs and other items, the Memphis-based company said it earned $4.25 per share.
In FedEx's express air-delivery business, revenue rose 7 percent and operating income climbed 14 percent.