MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Tuesday reported fiscal fourth-quarter profit of $1.65 billion.
The Memphis, Tennessee-based company said it had profit of $6.88 per share. Earnings, adjusted for non-recurring gains, were $6.07 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.93 per share.
The package delivery company posted revenue of $22.22 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $21.73 billion.
For the year, the company reported profit of $4.09 billion, or $16.81 per share. Revenue was reported as $87.93 billion.
For the current quarter ending in August, FedEx expects its per-share earnings to range from $3.40 to $4.
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