FedEx misses 2Q profit and revenue expectations

IndustriesAssociated 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.

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

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Keywords:FedEx,Earnings Report