News / Q4 could have been a lot worse without e-commerce boom, says relieved FedEx

FedEx is targeting market share from freight forwarders, it said, as it announced fourth-quarter results buoyed by growth in e-commerce.

It reported a loss of $334m on the back of revenue of $17.4bn in Q4, a better-than-expected Covid-19 period, it said, with an operating margin of 2.7%.

Full-year results showed net income of $1.29bn on revenues of $69.2bn, with an operating margin of 3.5%.

FedEx said it had “hit the bottom” in mid-April, but had seen week-on-week improvement since, and could see signs ...