Summary Box: FedEx 2Q nearly doubles

AP News
Posted: Dec 15, 2011 11:16 AM
Summary Box: FedEx 2Q nearly doubles

HOLIDAY CHEER: FedEx Corp. said Thursday its net income nearly doubled in its fiscal second-quarter, driven by online holiday sales.

THE NUMBERS: The Memphis, Tenn., company earned $497 million, or $1.57 per share, compared with $283 million, or 89 cents per share a year earlier. Last year's quarter included 27 cents in charges related to a business unit combination and legal reserve. FedEx's revenue rose 10 percent to $10.59 billion in the recent quarter.

IN WITH THE NEW: FedEx Corp. also said Thursday that it signed a deal to buy 27 new Boeing 767-300 aircraft, with the first three set to arrive in 2014. They will replace planes that are as much as 40 years old.