UPDATE: FedEx Posts Downbeat Q3 Profit
FedEx (NYSE: FDX) reported a 5% gain in its third-quarter profit.
FedEx's quarterly profit surged to $378 million, or $1.23 per share, compared to a year-ago profit of $361 million, or $1.13 per share.
Its revenue climbed to $11.3 billion versus $11.0 billion. However, analysts were estimating earnings of $1.45 per share on revenue of $11.47 billion.
FedEx projects current-quarter earnings of $2.25 to $2.50 per share, and full-year earnings of $6.55 to $6.80 per share.
FedEx shares dropped 1.64% to $136.30 in pre-market trading.
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