FedEx Profit Beats Forecast in Economic ‘Up Arrow’
FedEx Corp. said its fiscal second- quarter profit exceeded its forecast as international and ground shipments rose, bolstering economists’ assessments that a global recovery is under way.
Earnings will be $1.10 a share for the period that ended in November, FedEx said late yesterday. The shares rose $2.36, or 2.7 percent, to $89.88 at 4:15 p.m. in New York Stock Exchange composite trading, the highest close since September 2008.
FedEx Corp. said its fiscal second- quarter profit exceeded its forecast as international and ground shipments rose, bolstering economists’ assessments that a global recovery is under way.
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