FedEx Corp reported quarterly profit that missed Wall Street estimates on Monday, as employee compensation and other expenses weighed on margins.
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The Memphis-based package delivery company’s net profit rose to $835 million, or $3.10 per share, for the fiscal first quarter ended Aug. 31, up from $596 million, or $2.19 per share, a year earlier. Profit excluding items was $3.46 per share, missing analysts’ average estimate of $3.81, according to Thomson Reuters I/B/E/S.
