FedEx Corporation Q2 Profit Decreases, but beats estimates

(RTTNews) - FedEx Corporation (FDX) released a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $788 million, or $3.07 per share. This compares with $1.04 billion, or $3.88 per share, in last year's second quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $815 million or $3.18 per share for the period.

Analysts on average had expected the company to earn $2.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.0% to $22.8 billion from $23.5 billion last year.

FedEx Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $788 Mln. vs. $1.04 Bln. last year. -EPS (Q2): $3.07 vs. $3.88 last year. -Analyst Estimates: $2.82 -Revenue (Q2): $22.8 Bln vs. $23.5 Bln last year.

-Guidance: Full year EPS guidance: $13.00 to $14.00