FedEx Corporation Q3 Profit Decreases, but beats estimates

FedEx Corporation (FDX) revealed earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $771 million, or $3.05 per share. This compares with $1.11 billion, or $4.20 per share, in last year's third quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $865 million or $3.41 per share for the period.

Analysts on average had expected the company to earn $2.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.9% to $22.2 billion from $23.6 billion last year.

FedEx Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $771 Mln. vs. $1.11 Bln. last year.
-EPS (Q3): $3.05 vs. $4.20 last year.
-Analyst Estimates: $2.73
-Revenue (Q3): $22.2 Bln vs. $23.6 Bln last year.

Full year EPS guidance: $14.60 to $15.20

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