Originally Posted by
Cachaco
$2B a quarter 🙄. Last quarter barely earned $1B (directly from 10K, actually $900M GAAP). $1.08B 1Q. Net income of $3.9B for fiscal 2023. So $4B net income on $90B revenue, I would hardly say that is great stability.
And this is only because they started cutting costs like crazy, not increase in margins or lucrative margin business.
Keep in mind... this is a "bad" quarter for FedEx and yet we're still profitable.
The profit margins once DRIVE is complete will probably exceed 10%. To think that we should adjust our pay expectations lower because the company is "only" turning $1B quarterly profits during hard times would be extremely foolish and myopic.