© Reuters. FILE PHOTO: FedEx signage is seen through a fence at a FedEx regional hub at Los Angeles International Airport (LAX) in Los Angeles, California, U.S., September 16, 2022. REUTERS/Bing Guan
(Reuters) – FedEx Corp (NYSE:) reported a sharp drop in adjusted income on Tuesday, as soft holiday season delivery demand outpaced the company’s efforts to shelter profits with cost cuts.
Memphis, Tennessee-based FedEx said adjusted profit fell to $815 million, or $3.18 per share, from $1.3 billion, or $4.83 per share, for the fiscal second quarter that ended Nov. 30.
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