Investing.com - FedEx reported first quarter earnings that missed analysts' expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $3.05 on revenue of $17.05B. Analysts polled by Investing.com anticipated EPS of $3.17 on revenue of $17.09B. That compared to EPS of $3.46 on revenue of $17.1B in the same period a year earlier. The company had reported EPS of $5.01 on revenue of $17.8B in the previous quarter.
FedEx shares lost 7.33% to trade at $160.83 in after-hours trade following the report.
For the year, FedEx shares are up 7.57%, under-performing the S&P 500 which is up 21.34% year to date.
FedEx follows other major Transportation sector earnings this month
On Wednesday, August 28, 2019, Promotora Y reported second quarter EPS of $3.26 on revenue of $161.29M, compared to forecasts of EPS of $3.01 on revenue of $154.96M.
Ship Finance Int earnings beat analyst's expectations on Tuesday, August 20, 2019, with second quarter EPS of $0.43 on revenue of $110.9M. Investing.com analysts expected EPS of $0.2 on revenue of $113.51M
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