FedEx tumbles 8.5% after earnings miss estimates

Wednesday, 22. September 2021 17:20

Shares of FedEx Corp. plunged nearly 8.5% on Wednesday following the news that the company's earnings results for its first fiscal quarter of 2022 disappointed market expectations.

Following yesterday's closing bell, FedEx reported a 13.9% increase in revenue which reached $22 billion. However, both operating income and earnings per share registered declines to $1.4 billion and $4.09, respectively.

At 11:19 am ET, FedEx stocks tumbled 8.42% to sell for $230.89 per share.

Related Links: FedEx Corporation
Author:
Baha Breaking News (BBN) / ND