FedEx: Fiscal 3Q Earnings Snapshot

MEMPHIS, Tenn. (AP) _ FedEx Corp. (FDX) on Tuesday reported fiscal third-quarter earnings of $739 million.

On a per-share basis, the Memphis, Tennessee-based company said it had profit of $2.80. Earnings, adjusted for non-recurring costs, were $3.03 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.10 per share.

The package delivery company posted revenue of $17.01 billion in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $17.64 billion.

FedEx shares have increased 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 13 percent. In the final minutes of trading on Tuesday, shares hit $181.41, a decrease of 27 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FDX at https://www.zacks.com/ap/FDX