FedEx Stock Jumps on Better-Than-Expected Earnings Driven By Cost Cutting
FDXFedEx(FDX) Investopedia·2024-06-26 06:10

Key TakeawaysFedEx reported stronger-than-expected fourth-quarter earnings, sending the stock more than 14% higher in extended trading Tuesday.The company's revenue grew slightly from the year-ago period and came in ahead of expectations. Net income declined on a year-over-year basis, but beat estimates.FedEx CEO Raj Subramaniam said the results reflect the company's initiatives to drive profitability and cut costs, and that the company expects the "momentum to continue." FedEx (FDX) reported better-than-ex ...