FedEx Corporation Q3 Profit Increases, but misses estimates

FedEx Corporation (FDX) revealed earnings for its third quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line came in at $1.1 billion, or $4.20 per share. This compares with $0.89 billion, or $3.30 per share, in last year's third quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $1.22 billion or $4.59 per share for the period.

Analysts on average had expected the company to earn $4.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.8% to $23.6 billion from $21.5 billion last year.

FedEx Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $1.1 Bln. vs. $0.89 Bln. last year.
-EPS (Q3): $4.20 vs. $3.30 last year.
-Analyst Estimate: $4.64
-Revenue (Q3): $23.6 Bln vs. $21.5 Bln last year.

Full year EPS guidance: $18.60 to $19.60

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