NEW YORK (TheStreet) -- FedEx (FDX) shares are down 4% to $167.31 in early market trading on Wednesday after the diversified package delivery company reported its second quarter earnings results before the opening bell today.
The Memphis, TN-based company reported second quarter earnings of $616 million, or $2.14 per diluted share, up from the $1.57 it reported during the same period last year, but short of analysts' expectations by 8 cents per share.
The company generated $11.94 billion in revenue during the period, a 5% jump over the previous year's quarter but just shy of analysts' $11.97 billion expectations for the quarter.
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Separately, TheStreet Ratings team rates FEDEX CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FEDEX CORP (FDX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins."