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FedEx quarterly profit falls on labor costs By Reuters



© Reuters. FILE PHOTO: A FedEx truck is pushed by downtown in Los Angeles, California, U.S., July 22, 2019. REUTERS/Mike Blake/File Picture

(Reuters) – U.S. supply agency FedEx Corp (NYSE:) posted a decline in quarterly revenue on Tuesday, after labor prices crimped earnings development from surging e-commerce delivery and better charges and costs.

Adjusted internet revenue fell to $1.19 billion, or $4.37 per share, for the fiscal first quarter ended Aug. 31, from $1.28 billion, or $4.87 per share, a 12 months earlier.

Income elevated to $22.0 billion from $19.3 billion.

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