FedEx reports quarterly profit of $489M

09/19/2013 | Bloomberg

FedEx reported a profit of $489 million, or $1.53 a share, for the fiscal quarter that ended in August. The package delivery firm's profit exceeded analyst estimates of $1.50 a share. FedEx successfully cut costs as more customers moved to less-expensive forms of shipping than overnight shipping. "As a strategy for FedEx, we are embracing international economy," said CFO Alan Graf.

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