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FedEx Corporation Q3 adjusted earnings Miss Estimates

FedEx Corporation (FDX) revealed a profit for third quarter that decreased from the same period last year.

The company's earnings totaled $315 million, or $1.20 per share. This compares with $739 million, or $2.80 per share, in last year's third quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $371 million or $1.41 per share for the period.

Analysts had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.9% to $17.5 billion from $17.0 billion last year.

FedEx Corporation earnings at a glance:

-Earnings (Q3): $371 Mln. vs. $797 Mln. last year.
-EPS (Q3): $1.41 vs. $3.03 last year.
-Analysts Estimate: $1.43
-Revenue (Q3): $17.5 Bln vs. $17.0 Bln last year.

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