MEMPHIS: FedEx Corp lost US$70 million in the latest quarter because of large pension and acquisition items, and the delivery giant gave a cautious outlook for the next 12 months.
The company’s results still beat Wall Street expectations, as FedEx and other delivery companies continue to benefit as consumers do more shopping online. FedEx on Tuesday said that it expects earnings excluding one-time items in the new fiscal year to be between US$11.75 and US$12.25 per share.
Last quarter, the loss amounted to US$0.26 per share and compared with a year-earlier loss of US$895 million, or US$3.16 per share.
