US parcel delivery giant FedEx has reported solid quarterly results and unveiled an order for 27 Boeing aircraft as it updates its ageing aircraft fleet.
Net profit jumped 76% from a year earlier in its second financial quarter to November 30 to $497m. Earnings per share excluding once-off items were $1.57, beating analysts' average forecast of $1.52.
Revenue of $10.59 billion was up 10% from $9.63 billion in the 2010 second quarter.
FedEx chief Frederick Smith said health growth in online shopping was leading to increasing demand for its residential delivery services.
As part of the company's modernization of its aircraft fleet, FedEx said it had signed an agreement with Boeing to purchase 27 new 767-300F aircraft, a deal worth about $4.7 billion at list prices.
