XPO Logistics Inc's quarterly revenue more than doubled as it placed more freight with other carriers and shipped a higher number of quick delivery packages.The company, which is aiming to be a one-stop shop in logistics through acquisitions, said revenue from its freight brokerage business, its largest, more than tripled to $215.2 million in the fourth quarter.Revenue from XPO's expedited transportation, or quick delivery, division rose 19.4 percent to $26.4 million in the quarter ended Dec. 31."Shippers are looking outside of their traditional vendors and that creates opportunity for us at XPO to bid on more freight," Chief Executive Bradley Jacobs told Reuters.
XPO Logistics, Inc. is a logistics provider of freight transportation services. Shares of XPO traded higher by 1.17% or $0.32/share to $27.69. In the past year, the shares have traded as low as $15.48 and as high as $30.90. On average, 760577 shares of XPO exchange hands on a given day and today's volume is recorded at 1319534.
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