FedEx Corporation Q4 Profit Decreases, misses estimates

(RTTNews) - 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.