Fedex earnings miss expectations
FedEx reported secondquarter earnings that missed Wall Street expectations as the shipping company’s expenses soared. Shares of FedEx slipped nearly 3 percent in after-hours trading Tuesday.
FedEx reported net income of $700 million, or $2.59 per share, in the three months ended Nov. 30. That’s up from $691 million, or $2.44 per share, in the same quarter a year ago.
Earnings, adjusted to remove the costs related to its recent acquisition of TNT Express, were $2.80 per share. That’s far below the $2.91 per share that analysts expected, according to FactSet.