FedEx downgraded its revenue outlook, citing weak demand after it reported decrease gross sales and earnings than anticipated final quarter.
The corporate introduced down the highest finish of its full-year projection for earnings per share. It expects between $20 and $21 per share, down from $20-$22 per share. It additionally lowered its anticipated income development charge.
FedEx additionally described its final quarter as “difficult” attributable to increased working bills and decrease demand for its premium providers. It earned $3.21 per share, practically a 3rd decrease Wall Road’s expectations.
Shares of FedEx fell as a lot as 14 per cent in prolonged buying and selling.
