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http://biz.yahoo.com/ap/060921/earns_fedex.html?.v=2
FedEx 1st-Quarter Profit Rises 40 Pct.
Thursday September 21, 8:57 am ET FedEx Says 1st-Quarter Profit Rises 40 Percent on Strong Demand for Express Shipments
MEMPHIS, Tenn. (AP) -- Express transportation company FedEx Corp. said Thursday its first-quarter profit rose 40 percent, driven by strong demand for ground and international express shipments.
For the quarter ended Aug. 31, the company reported net income of $475 million, or $1.53 per share, versus a prior-year profit of $339 million, or $1.10 per share. Revenue rose 11 percent to $8.54 billion from $7.71 million in the year-earlier period.
Wall Street had forecast a profit of $1.52 per share, the average estimate of 15 analysts surveyed by Thomson Financial, on projected sales of $8.39 billion.
Total combined average daily package volume at FedEx Express and FedEx Ground increased 5 percent over the year-earlier period.
FedEx forecast earnings of $1.45 to $1.60 per share for the second quarter, and between $6.30 to $6.65 per share for the full year.
FedEx 1st-Quarter Profit Rises 40 Pct.
Thursday September 21, 8:57 am ET FedEx Says 1st-Quarter Profit Rises 40 Percent on Strong Demand for Express Shipments
MEMPHIS, Tenn. (AP) -- Express transportation company FedEx Corp. said Thursday its first-quarter profit rose 40 percent, driven by strong demand for ground and international express shipments.
For the quarter ended Aug. 31, the company reported net income of $475 million, or $1.53 per share, versus a prior-year profit of $339 million, or $1.10 per share. Revenue rose 11 percent to $8.54 billion from $7.71 million in the year-earlier period.
Wall Street had forecast a profit of $1.52 per share, the average estimate of 15 analysts surveyed by Thomson Financial, on projected sales of $8.39 billion.
Total combined average daily package volume at FedEx Express and FedEx Ground increased 5 percent over the year-earlier period.
FedEx forecast earnings of $1.45 to $1.60 per share for the second quarter, and between $6.30 to $6.65 per share for the full year.
