MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Thursday reported fiscal first-quarter net income of $794 million.
On a per-share basis, the Memphis, Tennessee-based company said it had profit of $3.21. Earnings, adjusted for non-recurring costs, were $3.60 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.82 per share.
The package delivery company posted revenue of $21.58 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $22.06 billion.
FedEx expects full-year earnings in the range of $20 to $21 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FDX at https://www.zacks.com/ap/FDX
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
