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Another strong earnings performance by FedEx was reported by the Memphis-based transportation and logistics titan late yesterday. Fiscal second quarter net income at $16.5 billion was up 9%, and earnings per share at $3.72, which topped Wall Street expectations of $3.11 per share. Quarterly operating income of $1.11 billion was up around 1%. FedEx said that quarterly consolidated earnings were adjusted to exclude the estimated $1.15 billion reduction in its net U.S. deferred tax liability, due to the lower statutory rate that was enacted as part of the Tax Cuts and Jobs Act.

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