FedEx Corp. reports strong 2nd quarter revenue and earnings growth

FedEx Corp. reported consolidated revenues of $10.59bn for the 2nd quarter, up 10% from $9.63bn the previous year. Operating income was $780m, up 66% from $469m last year, while operating margin was 7.4%, up from 4.9% the previous year. Net income was $497m, up 76% from $283m a year ago. FedEx projects earnings to be $1.25 to $1.45 per diluted share in the third quarter and reconfirms its forecast of $6.25 to $6.75 per diluted share for fiscal 2012. This guidance assumes the current market outlook for fuel prices, normal winter weather and moderate growth in the global economy.