The Hindu Business Line : FedEx Corp Q2 revenue up 24 pc at $7.33 b

FEDEX Corporation has reported earnings of $1.15 per diluted share for the second quarter ended November 30, consistent with the company's previous guidance of $1.10 to $1.20 per share. The corporation reported earnings of $0.30 per diluted share in the second quarter last year.

According to the consolidated results for the second quarter, FedEx Corp reported a revenue of $7.33 billion, up 24 per cent from $5.92 billion in the previous year.

Operating income at $600 million, was up from $183 million a year ago, while the operating margin grew by 8.2 per cent, up from last year's 3.1 per cent. Net income at $354 million, was up from $91 million the previous year

The express segment, FedEx Express, reported a revenue of $4.83 billion, up 13 per cent from last year's $4.28 billion for the second quarter. Operating income was at $333 million, compared with a loss of $19 million a year ago, while operating margin grew 6.9 per cent (0.4 per cent) during the quarter.

FedEx International Priority (IP) revenue increased more than 22 per cent for the quarter, while the average daily package volume grew 12 per cent, led by strong growth in Asia, US exports and Europe.

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FedEx Corp Q2 revenue up 24 pc at $7.33 b