FedEx: Fiscal 1Q Earnings Snapshot
MEMPHIS, Tenn. (AP) _ FedEx Corp. (FDX) on Tuesday reported fiscal first-quarter profit of $1.25 billion.
On a per-share basis, the Memphis, Tennessee-based company said it had profit of $4.72. Earnings, adjusted for non-recurring costs, came to $4.87 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.
The package delivery company posted revenue of $19.32 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $17.46 billion.
FedEx shares have risen 57% since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 5%. In the final minutes of trading on Tuesday, shares hit $237.42, an increase of 37% in the last 12 months.