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FedEx profit falls on lower e-commerce demand

June 20 (Reuters) – FedEx on Tuesday reported a fall in fourth-quarter adjusted profit after a bigger-than-expected drop in e-commerce delivery demand offset its $4 billion cost-cutting plan aimed at sheltering margins.

The company posted an adjusted profit of $4.94 per share for the quarter ended May 31, compared with $6.87 per share a year earlier.

(Reporting by Priyamvada C in Bengaluru)

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