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FedEx posts over 5% rise in quarterly revenue

(Reuters) - FedEx Corp (NYSE:FDX)'s first-quarter revenue rose 5.45% to $23.2 billion from a year earlier, it said on Thursday, sending the company's shares up about 1.2%. FedEx...
FedEx posts over 5% rise in quarterly revenue © Reuters. A FedEx Express delivery vehicle is seen in Long Beach, California, U.S., September 16, 2022. REUTERS/Bing Guan
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(Reuters) - FedEx Corp (NYSE:FDX)'s first-quarter revenue rose 5.45% to $23.2 billion from a year earlier, it said on Thursday, sending the company's shares up about 1.2%.

FedEx said it expects cost savings between $2.2 billion and 2.7 billion in fiscal 2023, amid weaking demand due to a weaker-than-expected business environment.

The cost savings will come from reducing flight frequencies at FedEx Express, suspending certain operations at FedEx Ground, among other measures, the company said.

The company had preannounced results for the first-quarter a week ago and pulled its forecast for the full year, citing a rapid deterioration in the global economy. It is now moving to cut capacity and costs that are eroding profits.

"We're moving with speed and agility to navigate a difficult operating environment, pulling cost, commercial, and capacity levers to adjust to the impacts of reduced demand," said Raj Subramaniam, FedEx's chief executive.

The company's quarterly net profit fell to $875 million, or $3.33 per share, from $1.11 billion, or $4.09 per share, a year earlier.

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30-09-2022 20:47:33 (UTC+7)

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    EUR/USD 0.9762 ↑ Buy  
    GBP/USD 1.1104 ↑ Buy  
    USD/JPY 144.54 ↑ Sell  
    AUD/USD 0.6479 Neutral  
    USD/CAD 1.3720 ↑ Sell  
    EUR/JPY 141.10 ↑ Buy  
    EUR/CHF 0.9557 Sell  
    Gold 1,678.40 ↑ Buy  
    Silver 19.070 ↑ Buy  
    Copper 3.4290 ↑ Buy  
    Crude Oil WTI 79.67 ↑ Sell  
    Brent Oil 85.50 ↑ Sell  
    Natural Gas 6.800 Buy  
    US Coffee C 223.07 ↑ Sell  
    Euro Stoxx 50 3,293.95 Buy  
    S&P 500 3,629.69 Neutral  
    DAX 12,046.33 ↑ Buy  
    FTSE 100 6,859.37 Neutral  
    Hang Seng 17,222.83 ↑ Buy  
    Small Cap 2000 1,677.65 ↑ Buy  
    IBEX 35 7,349.60 Buy  
    BASF 39.455 ↑ Sell  
    Bayer 47.34 ↑ Sell  
    Allianz 161.25 ↑ Sell  
    Adidas 117.30 ↑ Sell  
    Lufthansa 5.877 ↑ Sell  
    Siemens AG 100.14 ↑ Sell  
    Deutsche Bank AG 7.587 ↑ Sell  
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Cập nhật 30-09-2022 20:47:36
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ↀ Giá vàng thế giới
$1,668.68 +4.29 0.26%
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Sản phẩm Vùng 1 Vùng 2
RON 95-V23.26023.720
RON 95-III22.58023.030
E5 RON 92-II21.78022.210
DO 0.05S22.53022.980
DO 0,001S-V24.51025.000
Dầu hỏa 2-K22.44022.880
ↂ Giá dầu thô thế giới
WTI $79.67 0 0%
Brent $85.52 0 0%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.700,0024.010,00
EUR22.796,8324.072,65
GBP25.901,6927.005,39
JPY160,65170,07
KRW14,4117,55
Cập nhật lúc 17:03:50 30/09/2022
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