TNT Express Posts Upbeat Q1 Profit

TNT Express TNTEY reported upbeat first-quarter profit. TNT Express's quarterly adjusted earnings before interest and tax declined 16% to 38 million euros ($49.5 million). Its revenue dropped 4.5% to 1.67 billion euros. However, analysts were expecting underlying EBIT of 30.9 million euros and revenue of 1.804 billion euros. TNT Express shares closed at $7.35 on Friday.