Cargo giant FedEx Corporation (NYSE: FDX) reported an increase in net profit for the third quarter of 2024. The bottom line also came in above Wall Street’s projections.
Q3 profit, adjusted for one-off items, came in at $3.86 per share, compared to $3.41 per share in the year-ago period. Unadjusted profit was $879 million or $3.51 per share in the February quarter, vs. $771 million or $3.05 per share in the corresponding period of 2023. Earnings also topped expectations.
Total revenues were $21.7 billion in the third quarter, compared to $22.2 billion last year. Analysts were looking for a bigger number for the latest quarter.
