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Shares of FedEx fall after disappointing revenues and soft guidance for the year ahead

Shares of FedEx are down 3.5% after hours following earnings. EPS of $4.94 beat the $4.83 estimate but the company was light on revenue. It's also forecastings earnings for its 2024 fiscal year (which started June 1) that are below estimates.For the broader economy, what's most concerning is that FedEx sees flat to low-single-digit-percent revenue growth year over year in the fiscal years that started in June. It's also using cost cutting as a lever to improve profitability.“We’re approaching f... Read More

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Content Topics

Fedex

Fall

After

Disappointing

Revenues

Soft

Guidance

Forex

Posted: Jun 20 2023, 20:24

Author Name: forexlive

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