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Spokane, Washington  Est. May 19, 1883
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Business News

The FedEx Corp. reported a 47 percent increase in fourth quarter earnings Wednesday, citing continued growth in ground deliveries and international express shipments. (File/Associated Press / The Spokesman-Review)
From staff and wire reports The Spokesman-Review
The FedEx Corp. reported a 47 percent increase in fourth quarter earnings Wednesday, citing continued growth in ground deliveries and international express shipments. (File/Associated Press / The Spokesman-Review)

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Earnings roundup

“ The FedEx Corp. reported a 47 percent increase in fourth quarter earnings, citing continued growth in ground deliveries and international express shipments. The Memphis-based package delivery company earned $412 million, or $1.36 per share, in the three months ended May 31, up from $280 million, or 92 cents per share, in the same period last year. FedEx revenue rose to $7.04 billion in the quarter from $5.83 billion a year ago. “ A significant boost in the international computer chip market this spring put Micron Technology Inc. in the black for only the second quarter in the past 14, the world’s second-largest chip maker reported. The Boise-based company reported third quarter net income of $91.9 million, or 13 cents per share, on sales of more than $1.1 billion. That compared to a loss of $214.9 million, or 36 cents per share, on just under $733 million in sales during the March-May quarter a year ago.