GXO Logistics Reports 41.8% Decrease in Profit in Q2 Earnings Update
Q2 Revenue Grows by 18.9% YoY for Logistics Giant in Latest Earnings Release
GXO Logistics, Inc. [GXO] reported a net income of $39 million for the second quarter of 2024, ending on June 30. This reflects a decrease from the previous quarter's net income of $66 million.
The company, headquartered in Greenwich, Connecticut, reported to SEC in an 8-K filing $0.32 earnings per share in the quarter, compared to $0.54 in the previous quarter.
GXO Logistics experienced a significant growth in revenue, reaching $2.8 billion in the latest financial period. This represents an 18.9% increase compared to the previous period.
In comparison to the same quarter in the previous year, GXO Logistics observed a notable increase in revenue, with a growth of 18.9% year over year. Additionally, the company reported a 40.9% decrease in net income for the current quarter compared to the same quarter of the previous year.
