Fedex Shares Slide Following Quarterly Loss

By Sue Chang Markets MarketWatch Pulse

FedEx Corp. shares slipped in Tuesday's extended session after the package shipping company announced quarterly results. Fedex reported its fourth-quarter loss narrowed to $70 million, or 26 cents a share, from a loss of $895 million, or $3.16 a share, a year earlier. On an adjusted basis, the company would have earned $3.30 a share. Revenue edged up to $13 billion from $12.1 billion a year ago. Analysts surveyed by FactSet had forecast adjusted earnings of $3.28 a share on revenue of $12.77 billion. Fedex expects continued moderate economic growth and projected adjusted EPS of $11.75 to $12.25 for fiscal 2017. Shares of Fedex fell 2.4% after hours.

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