FedEx Delivers Through the Crisis

FedEx’s decision to embrace e-commerce orders may have had its doubters, but in a world gripped by the Covid-19 crisis, it is looking exactly right. The company late Tuesday reported it earned $2.53 a share, excluding retirement-plan adjustments and other costs, on revenue of $17.4 billion in its fiscal fourth quarter ended in May. That was down from adjusted earnings of $5.01 a share a year earlier, but much better than the $1.58 a share on sales of $16.4 billion that analysts were looking for….

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