US-based FedEx earned net income of $1.82 billion for its 2016 fiscal year ended May 31, up 73.3% over a net profit of $1.05 billion for the previous fiscal year, on a 6.1% year-over-year (YOY) rise in revenue to $50.37 billion. FedEx’s fiscal year total operating expenses increased 3.7% YOY to $47.29 billion and total operating income was $3.07 billion, up 64.8% over an operating profit of $1.87 billion in the prior fiscal year. FedEx attributed its results to profit improvement ...

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