FedEx second quarter profit below forecasts

FedEx Corp reported a quarterly profit and revenue that missed Wall Street estimates, but raised its full-year outlook on stronger-than-expected holiday volume and an improved economic forecast. Fiscal second-quarter net profit was $283 million, or $0.89 per share, compared with earnings of $345 million, or $1.10 per share, a year earlier, the second-largest US package delivery company said on December 16.
Excluding special items, the company reported a profit of $1.16 a share. Analysts, on average, had anticipated earnings of $1.31 per share for the quarter ended on November 30, according to Thomson Reuters I/B/E/S. Revenue rose 12 percent to $9.63 billion, compared with Wall Street forecasts of $9.7 billion.