FedEx is targeting market share from freight forwarders, it said, as it announced fourth-quarter results buoyed by growth in e-commerce.
It reported a loss of $334m on the back of revenue of $17.4bn in Q4, a better-than-expected Covid-19 period, it said, with an operating margin of 2.7%.
Full-year results showed net income of $1.29bn on revenues of $69.2bn, with an operating margin of 3.5%.
FedEx said it had “hit the bottom” in mid-April, …
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Source: The Loadstar