LOS ANGELES (Reuters) – U.S. delivery firm FedEx Corp on Thursday said quarterly profit almost doubled after rate hikes and spiking volume helped lower the cost of delivering pandemic-fueled e-commerce purchases to residential addresses.
Fiscal second quarter adjusted net income at FedEx jumped to $1.30 billion, or $4.83 per share, from $660 million, or $2.51 per share, a year earlier. Revenue grew 19% to $20.6 billion.
(Reporting by Lisa Baertlein in Los Angeles; Editing by Chris Reese)
