FedEx revenue jumps as pandemic drives e-commerce bounce

(Reuters) – U.S. package delivery company FedEx Corp posted a 13.5% rise in quarterly revenue on Tuesday, boosted by an increase in domestic residential shipments during the COVID-19 pandemic.

Adjusted net income rose to $1.28 billion, or $4.87 per share, in the first quarter ended Aug. 31, from $800 million, or $3.05 per share, a year earlier.

Revenue rose to $19.3 billion from $17 billion.

(Reporting by Sanjana Shivdas in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Arun Koyyur)