MEMPHIS, Tenn., September 18, 2013 … FedEx Corp. today reported earnings of $1.53 per diluted share for the first quarter ended August 31, compared with $1.45 per share last year.
“Growth in overall demand for our broad global portfolio of solutions drove our improved firs-quarter results,” said Frederick W. Smith, FedEx Corp chairman, president and chief executive officer. “FedEx Express remains focused on reducing costs while facing challenging global economic conditions. Meanwhile, FedEx Ground continues to generate strong profitability on growing customer demand for its services.”
FedEx Corp reported the following consolidated results for the first quarter:
Revenue of $11 billion, up 2% from $10.8 billion the previous year
Operating income of $795 million, up 7% from $742 million last year
An operating margin of 7.2%, up from 6.9% the previous year
Net income of $489 million, up 7% from last year’s $459 million