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FedEx Corporation Q4 Profit Decreases, misses estimates

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

The company's bottom line came in at $0.56 billion, or $2.13 per share. This compares with $1.87 billion, or $6.88 per share, in last year's fourth quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $1.80 billion or $6.87 per share for the period.

Analysts on average had expected the company to earn $6.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.0% to $24.4 billion from $22.6 billion last year.

FedEx Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $0.56 Bln. vs. $1.87 Bln. last year.
-EPS (Q4): $2.13 vs. $6.88 last year.
-Analyst Estimates: $6.88
-Revenue (Q4): $24.4 Bln vs. $22.6 Bln last year.

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