FedEx Posts 47% Gain in Profit, Ups Forecast
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From Bloomberg News
FedEx Corp. raised its earnings forecast for its fiscal year and said its fiscal fourth-quarter profit climbed 47% on an expanding global economy. The stock rose to a record.
Net income climbed to $412 million, or $1.36 a share, from $280 million, or 92 cents, a year earlier, FedEx said.
Revenue rose 21% to $7.04 billion, partially reflecting the purchase of the Kinko’s copy-store chain.
FedEx shares climbed $1.62 to $80.05 on the NYSE.
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