FedEx posts higher second-quarter profit

(Reuters) – FedEx Corp (FDX) posted higher quarterly profit on Wednesday as the shipping company cut costs and its express delivery segment, its biggest business, made more money. FedEx earned $500 million, or $1.57 a share, in the second quarter ended November 30, versus $438 million, or $1.39, in the same quarter last year. FedEx’s express unit had suffered as clients chose slower, cheaper delivery options. Shares of FedEx fell 1.5 percent to $136.97 in premarket trading.


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