FedEx sees 53% drop in Q1 profit

09/18/2009 | Air Transport World

FedEx Corp. beat internal expectations in its fiscal first quarter, reporting a 53% drop in net profit, to $181 million. CEO Frederick Smith said "decisive management actions" helped results, along with "better-than-expected FedEx International Priority volume." The company's FedEx Express segment saw operating income drop 70%.

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