Fedex (FDX) turned in some pretty solid numbers and blamed softness in the US economy for the fact that they were not better.
Revenue of $9.15 billion, up 8% from $8.49 billion the previous year
Operating income of $1.01 billion, up 9% from $927 million a year ago
Operating margin of 11.1%, up from 10.9% the previous year
Net income of $610 million, up 7% from last year’s $568 million
Guidance for the upcoming fiscal was soft and below the company’s long term goal of 10% to 15% earnings targets.
The company’s freight shipment business, although fairly small grew at a 28% rate.
Shares were up modestly at just above $108.
Douglas A. McIntyre
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