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Reuters

FedEx shares slip on unexpectedly low profit

Shares in FedEx slipped 0.8% in extended trading. E-commerce shipments have bolstered revenue at FedEx and United Parcel Service since the start of the COVID-19 pandemic – but FedEx has been less successful than its rival at translating that business into profit. FedEx needs to start capitalizing on an extremely strong demand environment and “showing investors that they are starting to use that increased revenue more efficiently – that they’re managing costs better,” said Patrick Donnelly, an analyst at Third Bridge Group.

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