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.
(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.
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Revenue rose to $17.8 billion from $17.3 billion a year earlier.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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