FedEx Corporation Q2 Profit Increases, but misses estimates

(RTTNews) - FedEx Corporation (FDX) announced a profit for its second quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $0.90 billion, or $3.55 per share. This compares with $0.79 billion, or $3.07 per share, in last year's second quarter.

Excluding items, FedEx Corporation reported adjusted earnings of $1.01 billion or $3.99 per share for the period.

Analysts on average had expected the company to earn $4.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $22.2 billion from $22.28 billion last year.

FedEx Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $0.90 Bln. vs. $0.79 Bln. last year. -EPS (Q2): $3.55 vs. $3.07 last year. -Analyst Estimate: $4.20 -Revenue (Q2): $22.2 Bln vs. $22.28 Bln last year.

-Guidance: Full year EPS guidance: $17.00 to $18.50