Friday, December 16, 2011

Summary Box: FedEx 2Q nearly doubles (AP)

HOLIDAY CHEER: FedEx Corp. said Thursday its net income nearly doubled in its fiscal second-quarter, driven by online holiday sales.

THE NUMBERS: The Memphis, Tenn., company earned $497 million, or $1.57 per share, compared with $283 million, or 89 cents per share a year earlier. Last year's quarter included 27 cents in charges related to a business unit combination and legal reserve. FedEx's revenue rose 10 percent to $10.59 billion in the recent quarter.

IN WITH THE NEW: FedEx Corp. also said Thursday that it signed a deal to buy 27 new Boeing 767-300 aircraft, with the first three set to arrive in 2014. They will replace planes that are as much as 40 years old.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20111215/ap_on_bi_ge/us_earns_fedex_summary_box

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