Shares fell 6.5% in after-hours trade to $152.58 after FedEx also said the late arrival of Thanksgiving shifted revenue from the Cyber Week holiday delivery surge into December, hurting results in its quarter ended Nov. 30. FedEx’s adjusted net income fell almost 39% to $660 million, or $2.51 per share, for the fiscal second quarter, missing analysts’ average estimate for a profit of $2.76 a share, according to IBES data from Refinitiv. In September, FedEx lowered its earnings forecast for the year ending May 31, 2020, to $11 to $13 per share. …read more
Source:: Yahoo Finance
