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FedEx fiscal Q2 profit climbs 22.6% YOY

FedEx Corp. said its normalized net income for the fiscal second quarter ended Nov. 30 came to $2.11 per share, compared with the S&P Capital IQ consensus estimate of $2.22 per share.

EPS rose 36.3% year over year from $1.55.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $606.9 million, an increase of 22.6% from $495.0 million in the year-earlier period.

The normalized profit margin climbed to 5.5% from 4.3% in the year-earlier period.

Total revenue increased year over year to $11.94 billion from $11.40 billion, and total operating expenses climbed year over year to $10.93 billion from $10.58 billion.

Reported net income increased 22.6% year over year to $614.2 million, or $2.14 per share, from $500.8 million, or $1.57 per share.