The overnight package company said it earned $500 million, or $1.57 a share, in the fiscal second quarter. Analysts surveyed by Thomson Reuters had estimated $1.64. Revenue rose 3% to $11.4 billion, in line with estimates.
During the same quarter a year earlier, FedEx earned $438 million, or $1.39 a share, after a one-time charge of 11 cents due to the impact of Hurricane Sandy.
"FedEx posted solid second-quarter earnings, reflecting improved performance at FedEx Express, as the profit improvement plan introduced more than a year ago continues to gain momentum," said CEO Fred Smith, in a prepared statement.
In premarket trading Wednesday, shares were falling $4.01 to $135.
Written by Ted Reed in Charlotte, N.C.
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