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FedEx fiscal Q2 profit climbs YOY

FedEx Corp. said its normalized net income for the fiscal second quarter ended Nov. 30 was $2.42 per share, compared with the S&P Capital IQ consensus estimate of $2.50 per share.

EPS climbed 6.3% year over year from $2.28.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $685.0 million, a gain from $653.8 million in the year-earlier period.

The normalized profit margin declined to 5.3% from 5.5% in the year-earlier period.

Total revenue climbed year over year to $12.45 billion from $11.94 billion, and total operating expenses increased year over year to $11.28 billion from $10.85 billion.

Reported net income grew year over year to $690.5 million, or $2.44 per share, from $663.0 million, or $2.31 per share.