FedEx reports 17.5% drop in quarterly profit

 FedEx reports 17.5% drop in quarterly profit

(Reuters) - FedEx Corp reported a 17.5% fall in quarterly profit on Tuesday, as an escalating U.S.-China trade war continued to weigh on the package delivery company.

Adjusted net income fell to $1.32 billion, or $5.01 per share, for the fourth-quarter ended May 31, from $1.60 billion, or $5.91 per share, a year earlier.

Revenue rose to $17.8 billion from $17.3 billion a year earlier.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur)

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Updated Date: Jun 26, 2019 02:05:34 IST