FedEx tops Street 1Q forecasts

AP News
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Posted: Sep 17, 2014 7:46 AM

MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Wednesday reported profit of $606 million in its fiscal first quarter.

The Memphis, Tennessee-based company said it had profit of $2.10 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.

The package delivery company posted revenue of $11.68 billion in the period, which also topped Street forecasts. Analysts expected $11.44 billion, according to Zacks.

FedEx shares have risen nearly 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 8 percent. The stock has risen 41 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. A stock research report on FDX from Zacks is available at: http://www.zacks.com/ap/FDX

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Keywords:FedEx,Earnings Report