Company News: FedEx (FDX) reported better than expected third fiscal quarter earnings, but revenue missed forecasts

Market news

18 March 2015

Company News: FedEx (FDX) reported better than expected third fiscal quarter earnings, but revenue missed forecasts

FedEx (FDX) earned $2.01 per share in the third fiscal quarter, beating analysts' estimate of $1.88. Revenue in the third fiscal quarter increased 4.0% year-over-year to $11.7 billion, missing analysts' estimate of $11.8 billion.

The company downgraded its forecasts for the fiscal year 2015. EPS is expected to be $8.80-$8.95 (analysts' estimate: $8.97), down from a previous estimate of $8.50-$9.00.

FedEx (FDX) shares decreased to $173.89 (-1.04%) prior to the opening bell.

FedEx (FDX) is often called a "barometer of business activity in the world", as it is engaged in the transportation of the various products, and it responds to changes in supply and demand as one of the first companies.

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