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Business Briefing / Earnings

FedEx says profit will remain weak

September 18, 2009|Times Wire Reports

FedEx Corp. said it saw signs of improvement in the global economy as international shipments pick up but warned that its profit would remain weak at least through the end of the year.

The world's second-largest package delivery company, based in Memphis, Tenn., reported earnings of $181 million, or 58 cents a share, for the quarter that ended in August, down 53% from $384 million, or $1.23, a year earlier.

Revenue fell 20% to about $8 billion.

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