FedEx misses 2Q profit and revenue expectations

MarketsAssociated Press

FedEx Corp. (FDX) on Wednesday reported net income of $616 million in its fiscal second quarter.

On a per-share basis, the Memphis, Tennessee-based company said it had profit of $2.14.

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The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.

The package delivery company posted revenue of $11.94 billion in the period, which also missed Street forecasts. Analysts expected $11.97 billion, according to Zacks.

FedEx expects full-year earnings to be $8.50 to $9 per share.

FedEx shares have risen 21 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 7 percent. The stock has increased 25 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. FDX stock research report from Zacks.


Keywords:FedEx,Earnings Report