(Reuters) – FedEx Corp reported a sharp drop in adjusted income on Tuesday, as soft holiday season delivery demand outpaced the company’s efforts to shelter profits with cost cuts.
Memphis, Tennessee-based FedEx said adjusted profit fell to $815 million, or $3.18 per share, from $1.3 billion, or $4.83 per share, for the fiscal second quarter that ended Nov. 30.
(Reporting by Lisa Baertlein in Los Angeles)
