MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Tuesday reported fiscal fourth-quarter profit of $1.54 billion.
On a per-share basis, the Memphis, Tennessee-based company said it had net income of $6.05. Earnings, adjusted for non-recurring gains, were $4.94 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.83 per share.
The package delivery company posted revenue of $21.93 billion in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $22.72 billion.
For the year, the company reported profit of $3.97 billion, or $15.48 per share. Revenue was reported as $90.16 billion.
FedEx expects full-year earnings in the range of $16.50 to $18.50 per share.
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