News / FedEx numbers and its tepid market outlook disappoint Wall Street

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The latest earnings numbers from FedEx were greeted on Wall Street with a drop in its stock value in after-hours trading, despite management holding course through the choppy waters of the quarter ended 31 May.

Over the previous two quarters, FedEx efforts to slash costs and improve operating efficiencies lifted the integrator’s stock value, but the shares dropped 3% after the results for fiscal Q4 and the full year.

Q4 revenues contracted 10.2% year on year, to $21.9bn, operating income was down ...