Stock Groups

FedEx quarterly profit falls on labor costs By Reuters


© Reuters. FILE PHOTO A FedEx truck drives through the downtown area of Los Angeles on July 22, 2019, U.S.A. REUTERS/Mike Blake/File Photo

(Reuters) – U.S. delivery firm FedEx Corp (NYSE:) posted a decline in quarterly profit on Tuesday, after labor costs crimped earnings growth from surging e-commerce shipping and higher rates and fees.

From $1.28 Billion, which was $4.87 per share a year ago, adjusted net income dropped to $1.19Billion, or $4.37 per shares, in the quarter that ended August 31.

The revenue grew to $22.0billion from $19.3billion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are created by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.