9/17/2019, 10:05 PM (Source: TeleTrader)
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Chart for: FedEx Corp

FedEx reports revenue of $17.05B in Q1

FedEx Corp. said on Tuesday its revenue in the first quarter of fiscal 2019 amounted to $17.05 billion, staying virtually unchanged compared to the same period a year ago. The company's operating income stood at $977 million, marking an 8% decrease year-over-year. On the other hand, the courier company's net income amounted to $745 million, a 10% decrease when compared to the first fiscal quarter of 2018.

"Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty," Chairman and CEO Frederick Smith said in a statement. "Despite these challenges, we are positioning FedEx to leverage future growth opportunities as we continue the integration of TNT Express, enhance FedEx Ground residential delivery capabilities and modernize the FedEx Express air fleet and hub operations.".

FedEx's shares slumped 7.45% following the release of quarterly results.

Breaking the News / GG