FedEx, one of the world’s largest delivery companies, had a great second quarter thanks to the growing e-commerce industry. The business reported a rise in revenue of 5 percent to USD 12.5 billion, which is higher than predicted. The higher result also had a positive impact on the company's shares. Thanks to the strong quarter FedEx stock jumped 4 percent to $156.67 in after-market trading.
317 Million Packages Over Holiday Season
FedEx, which recently was fined for price colluding by French authorities, said in October the company predicted some good years ahead due to more people shopping online. The outlook was, according to Forbes, to ship 317 million packages between Black Friday and Christmas Eve.
- A record number of holiday shipments – fueled by the steady rise of e-commerce – are flowing through the FedEx global networks, said CEO Fred Smith.
According to Forbes, FedEx is currently looking at expanding its business. In April the company announced it was to buy the Dutch shipping company TNT Express, preparing for a recovering European economy.