FedEx Corp, the world's leading air-express group, on Wednesday reported a better-than-expected increase in quarterly earnings, helped by cost savings and jumps in overseas and trucking shipments.
The Memphis, Tennessee, transport group said fiscal third-quarter net income, including costs from staff reductions, was $207 million, or 68 cents a share.
In the year-earlier quarter, when FedEx struggled against severe North American winter storms, the company had net income of $147 million, or 49 cents a share.
Excluding the costs, which were equal to 3 cents a share, profit for the quarter ended February 29 would have been $216 million, or 71 cents a share, FedEx said in a news release.
Analysts had expected FedEx to earn 66 cents a share, excluding the charges, according to a consensus forecast among 17 analysts from the Reuters Research unit of Reuters Group Plc.
Revenue at FedEx, which acquired the Kinko's copy centre chain during the quarter, rose to $6.06 billion, from $5.55 billion a year earlier.
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