FedEx has been trying to turn its business around after a difficult year, but its second quarter results show that it's not nearly there yet
New York FedEx has been trying to turn its business around after a difficult year, but its second quarter results show that it's not nearly there yet.
On Tuesday, the company reported net income of $660 million for the three months ending November 30, down nearly 40% from the same period a year earlier. Revenue fell to $17.3 billion from $17.8 billion over that time. Shares in FedEx dropped nearly 7% in after-hours trading Tuesday following the earnings release. "We are at the bottom," Chief Financial Officer Alan Graff Jr. said in a call with Wall Street analysts Tuesday.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves after hours: FedEx, Cintas, Steelcase and moreStocks making the biggest moves after hours: FedEx, Cintas, Steelcase & more
Read more »
FedEx Warns of Another Hit to ProfitsFedEx posted a 40% drop in quarterly profit and again cut its earnings targets, as the delivery giant records less revenue from its Express business and books higher costs tied to delivering more e-commerce packages to homes.
Read more »
Amazon sellers are the latest casualty from the company's spat with FedExAmazon sellers say they were 'caught off guard' by the company's decision to halt FedEx ground delivery.
Read more »
Amazon sellers can't use FedEx Ground for Prime shipmentsAmazon will no longer allow its third-party sellers to use FedEx's ground delivery to ship Prime packages, marking a change that could affect small businesses and pricing for consumers
Read more »
Amazon Slams FedEx Performance, Won’t Use For Prime DeliveriesAmazon will no longer allow FedEx to deliver Prime shipments from 3rd-party sellers because of its delivery performance by lisettevoytko
Read more »
Amazon Slams FedEx Performance, Won’t Use For Prime DeliveriesThe Seattle tech giant claims FedEx’s delivery performance is waning.
Read more »