Logistics company, FedEx Corp. (NYSE:FDX), is aiming to make the most of the large volumes of data it generates every day, with CEO Raj Subramaniam calling the company's logistics dataset one of the most valuable in the world.
‘Unmatched View’ of Physical Supply Chain Patterns
Speaking on the company's fiscal first-quarter earnings call, Subramaniam said, “We moved 17 million packages through our network daily, generating 2 petabytes of data and 100 billion transactions across software applications.”
More importantly, he said, “Our position at the intersection of global commerce gives us an unmatched view of physical supply chain patterns, seasonal demand shifts and emerging trade corridors.”
See Also: How To Earn $500 A Month From FedEx Stock Ahead Of Q1 Earnings
FedEx has been working to build what it calls an “advanced digital twin,” which Subramaniam described as “an intelligent system that anticipates disruptions, provides optimized route information in real time and creates predictive customer experiences.”
The company believes its extensive operational data is becoming a critical asset in the AI era. “The fuel for AI is data,” Subramaniam said, adding that FedEx has been organizing and engineering its data “on a platform basis” since 2020. “Simply put, FedEx owns one of the richest logistics, intelligent assets in the world.”
Stock Surges On Earnings Beat
FedEx released its first-quarter results on Thursday, reporting $22.2 billion ahead of consensus estimates at $21.67 billion. The company reported a profit of $3.83 per share, which again beat analyst estimates at $3.62 per share.
The stock was up 0.32% on Thursday, closing at $226.50, and is up 5.53% after hours, following its earnings announcement. According to Benzinga’s Edge Stock Rankings, the stock scores high on Growth and Value, and has a favorable price trend in the short and medium terms. Click here for deeper insights into the stock, its peers and competitors.
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