Logistics major posts strong quarterly results led by margin expansion

FedEx reported second-quarter revenue of $23.47 billion, exceeding estimates and rising 6.8% year-on-year. Adjusted earnings per share stood at $4.82, ahead of expectations, while adjusted EBITDA reached $2.45 billion, reflecting a 10.4% margin. The company maintained a flat outlook for its freight segment in FY26 following the earnings release.

Shares of Tata Consultancy Services advanced after the company reported better-than-expected quarterly earnings. Market attention also remained on select midcap and smallcap firms that posted outsized year-on-year profit growth during the quarter. Investors tracked sustainability of earnings momentum as broader markets remained sensitive to global cues and sector-specific developments.