United States multinational courier delivery services, FedEx (NYSE: FDX) announced positive first quarter earnings beating analysts’ expectations. The company reported EPS of $2.90 on revenues of $14.66 billion, over consensus estimates of EPS of $2.81 on revenues of $14.61 billion.
According to Business Insider, The courier giant said its operating results were boosted by higher volumes of FedEx Ground shipments, as well as cost reductions at FedEx Express. But costs associated with integrating TNT Express, the delivery company it bought in May, dented some of these gains.
"Our team is extremely excited about the TNT Express integration, and we are discovering many possibilities for achieving high returns," said Alan Graf, executive vice president and chief financial officer, in the earnings release.
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