FedEx Corp. Shares Rise After Earnings Beat

By Claudia AssisMarketsMarketWatch Pulse

FedEx Corp. shares rose 1% late Tuesday after the shipping and logistics company reported better-than-expected fiscal first-quarter earnings and sales. FedEx said it earned $715 million in the first quarter, or $2.65 a share, compared with $692 million, or $2.42 a share, in the year-ago period. Adjusted for one-time items, FedEx earned $2.90 a share. Sales reached $14.7 billion in the quarter, up from $12.3 billion a year ago. Analysts polled by FactSet had expected FedEx to report adjusted earnings of $2.78 a share on sales of $14.6 billion. Shares of FedEx had ended the regular session up 0.9%.

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