FedEx Corporation Q2 Profit Decreases, but beats estimates

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

The company's bottom line totaled $1.04 billion, or $3.88 per share. This compares with $1.23 billion, or $4.55 per share, in last year's second quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $1.30 billion or $4.83 per share for the period.

Analysts on average had expected the company to earn $4.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.1% to $23.5 billion from $20.6 billion last year.

FedEx Corporation earnings at a glance:

-Earnings (Q2): $1.04 Bln. vs. $1.23 Bln. last year. -EPS (Q2): $3.88 vs. $4.55 last year. -Analyst Estimates: $4.28 -Revenue (Q2): $23.5 Bln vs. $20.6 Bln last year.

-Guidance: Full year EPS guidance: $20.50 to $21.50