Biz Brief: FedEx Earnings Narrowly Beat Estimates

FedEx (FDX), the world's second-largest shipping company reported earnings Wednesday of $1.33 per diluted share for the fourth quarter ended May 31, narrowly beating estimates.

Analysts expected FedEx to report fiscal-fourth quarter earnings of $1.32 a share, according to data from Thomson Reuters. That's more than double the 64 cents a share booked in the prior-year period and at the higher end of management's guidance of $1.17 to $1.37 a share. Revenue estimates were expected to show growth of 15% to $9.04 billion from $7.85 billion a year ago.

CEO Frederick W. Smith said "We ended our fiscal year a stronger company, and I am confident FedEx is very well positioned for future revenue and earnings growth."

Read more about FedEx's earnings.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »

Add a Comment

*0 / 3000 Character Maximum