A FedEx plane carrying Ya Ya, a woman big panda that has lived in the United States for two many years, lands at Shanghai Pudong International Airport on April 27, 2023 in Shanghai, China.
Vcg | Visible China Team | Getty Photos
FedEx shares tumbled 8% in right after-hours buying and selling Tuesday after the offer-supply big reduced its earnings forecast as weaker demand hit revenue.
The company mentioned it expects a reduced-single-digit decrease in income for the fiscal 12 months, down from a previous forecast for flat income year-over-calendar year. Analysts had expected a revenue fall of less than 1% in the recent fiscal yr, according to LSEG, previously recognised as Refinitiv.
It truly is the 2nd consecutive quarter FedEx has decreased its gross sales outlook.
This is a establishing tale. Test again for updates.