FedEx hikes 2023 earnings forecast as cost-cutting initiatives bear fruit
Publishing timestamp: 2023-03-16 19:14:08
Summary
FedEx hiked its full-year earnings forecast as cost-cutting measures offset continued demand weakness. The company beat Wall Street estimates on its adjusted earnings per share but missed on revenue. FedEx plans to make more than $4 billion in cost reductions by the end of fiscal year 2025. The company's stock spiked more than 11% in after-hours trading.
Sentiment: NEUTRAL
Tickers: FDX,
Keywords: fedex corp, business news, markets, airlines, transportation, earnings, business, economy,
Source: https://www.cnbc.com/2023/03/16/fedex-fdx-earnings-q3-2023.html