FedEx Beats Earnings Estimates (FDX)
This morning prior to the opening bell, global shipping giant FedEx (NYSE: FDX) reported their quarterly earnings numbers. The Memphis, Tennessee based company earned Q4 net income of $239 million or $0.76 per share, compared to $97 million or $0.31 per share in last year's third quarter. Consensus analysts' estimates had been pegged at $0.72 per share.
Revenue increased 7% to $8.70 billion from $8.14 billion in last year's corresponding quarter. Fred Smith, FedEx Corp. chairman, president and chief executive officer, said, "Outstanding execution of our business strategy and an improving global economy drove solid financial performance in the third quarter." During today's trading session, FDX stock is trading 0.19% higher to $89.97. This earnings beat was largely expected on the Street.
