Fedex Shares Slide Following Quarterly Loss

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.