FedEx profit up, but misses expectations
DALLAS -- FedEx says its profit rose 5 percent from a year ago despite storms that raised the company's costs. But its results were below analysts' expectations.
The package-delivery giant said Wednesday that net income rose to $378 million, or $1.23 per share, for the quarter that ended Feb. 28. Analysts surveyed by FactSet expected $1.45 per share.
Revenue rose 3 percent to $11.30 billion, below Wall Street's forecast of $11.43 billion. Ground shipping is doing better, but the express-delivery business is flat.
The company expects earnings for the fiscal year that ends in May to be... read more
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