FedEx again cuts full-year profit forecast

March 19, 2019

(Reuters) – Package delivery company FedEx Corp reported a lower adjusted quarterly net profit on Tuesday, and cut its full-year earnings per share forecast for the second time, citing weaker global trade growth.

The company’s adjusted net income fell to $797 million, or $3.03 per diluted share, in the third quarter ended Feb. 28, from $1.02 billion, or $3.72 per share, a year earlier.

Total revenue rose about 3 percent to about $17.0 billion.

(Reporting by Lisa Baertlein in Los Angeles and Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)

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