Shares of FedEx dropped more than 4 percent after the bell Tuesday after missing on the top and bottom line.
Here’s how the company did compared to what Wall Street expected:
- Earnings per share: $3.03, vs. $3.11 expected , according to analysts surveyed by Refinitiv.
- Revenue: $17.0 billion, vs. $17.67 billion expected, according to analysts surveyed by Refinitiv.
Last quarter, FedEx lowered its full year 2019 earnings guidance to a range of $15.50 to $16.60 per share, down from $17.20 to $17.80 per share. Analysts expected $17.33 per share. The company cited a deceleration in global trade.
FedEx also said that despite a strong U.S. economy, its international business weakened during the second quarter, especially in Europe.
This is a developing story. Check back for updates.
