FedEx quarterly revenue rises 9.2 percent

An all-electric FedEx delivery truck is seen in San Diego, California September 24, 2013. REUTERS/Mike Blake

(Reuters) – U.S. package delivery company FedEx Corp (FDX.N) reported a 9.2 percent rise in quarterly revenue on Tuesday, driven by higher shipment volumes.

The Memphis-based company’s net profit rose to $ 935 million, or $ 3.51 per share, for the second quarter ended Nov. 30, up from $ 775 million, or $ 2.84 per share, a year earlier.

FedEx also said it would look to cut costs due to weakening business in Europe.

Revenue rose to $ 17.8 billion from $ 16.3 billion.

Reporting by Uday Sampath in Bengaluru; Editing by James Emmanuel

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