FedEx Corporation Q2 Profit Decreases, Misses Estimates

(RTTNews) - FedEx Corporation (FDX) revealed earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $0.74 billion, or $3.03 per share. This compares with $0.90 billion, or $3.55 per share, in last year's second quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $0.99 billion or $4.05 per share for the period.

Analysts on average had expected the company to earn $4.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.9% to $22.0 billion from $22.2 billion last year.

FedEx Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $0.74 Bln. vs. $0.90 Bln. last year. -EPS (Q2): $3.03 vs. $3.55 last year. -Revenue (Q2): $22.0 Bln vs. $22.2 Bln last year.

-Guidance: Full year EPS guidance: $19.00 to $20.00