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)
