Shares of FedEx (FDX - Get Report) fell in after-hours trading Tuesday after the company posted fiscal third-quarter results that missed Wall Street estimates.

The company reported adjusted earnings per share of $3.03 on revenue of $17 billion for the period.

FedEx had been expected to earn $3.08 a share on revenue of $17,6 billion, based on a FactSet survey of 21 analysts.

Shares fell $10.01, or 5.5%, to $171.40 in after hours trading.

"Our third quarter financial results were below our expectations and we are focused on initiatives to improve our performance," said Frederick W. Smith, FedEx Corp. chairman and chief executive officer, in a statement.

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