FedEx Corporation Q3 Profit Increases, but misses estimates

(RTTNews) - 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.

-Guidance: Full year EPS guidance: $18.60 to $19.60