FedEx profit rises on e-commerce boost

March 17, 2022

(Reuters) – FedEx Corp posted a stronger quarterly profit on Thursday as the U.S. package delivery firm benefited from a boom in online shopping.

The Memphis-based company’s adjusted net income for the fiscal third quarter increased to $1.22 billion, or $4.59 per share, from $939 million, or $3.47 per share, a year earlier.

Revenue for the quarter ended Feb. 28 grew 9.8% to $23.6 billion.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Devika Syamnath)