FedEx reported better-than-expected quarterly revenue and adjusted profit
American FedEx Corp., one of the world’s largest transportation and logistics companies, reported quarterly adjusted profit and revenue that exceeded market expectations after trading on the New York Stock Exchange was halted on Tuesday.
FedEx’s fiscal fourth-quarter earnings, which ended May 31, fell 4.5 percent to $1.47 billion from $1.54 billion a year earlier. Earnings per share decreased from $6.05 to $5.94.
Quarterly profit excluding non-recurring items was $5.41 per share, beating the average analyst estimate of $5.34.
FedEx’s quarterly revenue rose to $22.1 billion from $21.9 billion a year earlier, also beating expectations of $22.04 billion.
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