FedEx reported net income in its fiscal third quarter up 10.8 percent to US$562 million, as revenue rose 18.5 percent to $15 billion. Reported operating income was also up strongly (18.6 percent) to $1.03 billion.
Great results, right?
Well, yes, and no. Because, as has become almost usual with financial reports in our industry, the picture changes dramatically if one takes into account the impacts of various one-time charges, such as the costs of the acquisition of TNT last year, or benefits in the current and comparison quarters. See much more analysis in our sister publication, Cargo Facts:
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