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6/30, 10:05 PM (Source: TeleTrader)
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FedEx reports Q4 revenue at $17.4B, down 2% YoY

FedEx Corp.'s revenue in the fourth fiscal quarter of 2020 fell 2% on an annual basis to stand at $17.4 billion, the company said on Tuesday. Operating income in the same period was $475 million, down 64% on a yearly basis. Net loss dropped 83% compared to last year to $334 million, or $1.28 per share.

In the full 2020, revenue was 1% lower year-over-year, amounting to $69.2 billion. Operating income decreased by 46% to $2.42 billion, while net income grew 139% to $1.29 billion.

"Though our fiscal fourth quarter performance was severely affected by the COVID-19 pandemic, I am extremely proud of the herculean efforts of our team members," said CEO Frederick Smith. "As a result of the strategic investments we have made to enhance our capabilities and efficiencies, FedEx is well positioned to support and benefit from the reopening of the global economy," he added.

Breaking the News / MD