FedEx Q4 Result Beats Expectations; Shares Soar About 10%

FedEx Corporation, an American multinational delivery services company headquartered in Tennessee, has reported better-than-expected fourth-quarter revenue and profit as demand for contactless home deliveries surged amid COVID-19 pandemic, sending shares of the leading delivery services company up about 10%. Adjusted profit at Tennessee-based delivery services company slumped by nearly 50% to $663 million, or $2.53 per share. FedEx revenue for the fourth quarter dipped to $17.4 billion from $17.8 billion recorded a year ago. That beat the average forecast of $1.42 per share by...