Double-digit profit growth for UPS

UPS, like its main competitor FedEx, turned in a solid performance in its most recent quarter. UPS reported first-quarter net income up 10.2% y-o-y to $1.13 billion, as total revenue increased 3.2% to $14.42 billion. Operating profit for the quarter was up 9.0% to $1.82 billion. Looking first at revenue: UPS said that “growth was […]

International funding for Cainiao

At least six groups injected an estimated US$1.54 billion into Alibaba’s logistics unit Cainiao during the company’s first round of external funding since it was founded in 2013. In a move led by e-commerce giant Alibaba, Cainiao was founded three years ago with financial support from two strategic partnerships, one led by China Life Insurance […]

FedEx calls out ‘fantastical’ news reports

FedEx reported fiscal third-quarter net income down 19.3% y-o-y to $507 million, as revenue rose 8.5% to $12.7 billion. Operating income for the quarter was down 16.8% to $864 million. But, as usual, the reported figures mask the impact of one-time charges – in this case, expenses related to legal issues and the pending acquisition […]

DHL Global Forwarding bounces back

Deutsche Post-DHL reported fourth-quarter net income up 4.7% y-o-y to €670 million, as total revenue was almost flat (down 0.2%) at €15.34 billion. Operating profit for the quarter was up 5.7% to €957 million. If there was a highlight in the quarter, it was the beginning of a turnaround in the company’s troubled Global Forwarding, […]
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