<p>FedEx reports profit</p>

FedEx reports profit

Business

Package shipping company FedEx Corp reported a quarterly profit compared with loss in the year-ago interval, boosted by higher sales units.

A Federal Express truck delivery is pictured in downtown Los Angeles, California October 29, 2014. REUTERS/Mike Blake

REUTERS: Package shipping company FedEx Corp reported a quarterly profit compared with reduction in the year-ago interval, boosted by higher sales across all of of its business units.

The company posted a net income of US$1.02 billion, approximately US$3.75 per share, in the fourth quarter ended May 31, compared with a net reduction of US$70 million, or 26 cents per share, a year earlier.

In an adjusted basis, the company earned US$4.25 per share. Several charges a year 13, linked to TNT Express purchase had been incurred by fedEx.

Revenue rose to US$15.7 billion in US$13 billion a year earlier.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur)

Source: Reuters