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Latest Business News

FedEx Posts 35 Percent Rise in 3Q Profit

Wednesday, March 22, 2006 4:39:50 PM
By WOODY BAIRD

Paul Jespersen Chavez maneuvers his cart as he makes deliveries along his route Monday, March 21, 2006, in Portland, Ore. Shipping company FedEx Corp. on Wednesday said its profit rose 35 percent in the third quarter, lifted by higher revenue from a modest upswing in package volume.  (AP Photo/Rick Bowmer)MEMPHIS, Tenn. (AP) - Shipping company FedEx Corp. on Wednesday said its profit rose 35 percent in the third quarter, lifted by continued growth of business abroad and holding down costs.

For the quarter ended Feb. 28, FedEx earned $428 million, or $1.38 per share, up from $317 million, or $1.03 per share, a year earlier.

Overall revenue for the quarter totaled $8 billion, a 9 percent growth from $7.34 billion a year earlier.


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