FedEx Posts Higher First-Quarter Profit - Hedge Fund Alpha (formerly ValueWalk Premium)

FedEx Posts Higher First-Quarter Profit

FedEx Corporation (NYSE:FDX) posted bigger fiscal first-quarter profit at $489 million from $459 million, reported in the year-ago period. FedEx is considered an economic bellwether as it moves massive volume of goods around the world. It posted $1.53 a share for the first-quarter ending August 31, up from $1.45 a share last year. FedEx Beats Analysts Estimates FedEx Corporation (NYSE:FDX) revenue rose 2 percent to $11 billion up from $10.8 billion posted a year earlier. According to a consensus estimates from Thomson Reuters, analysts anticipated FedEx to report earnings excluding items of $1.50 a share from $10.97 billion revenue. Echoing confidence on...

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