MEMPHIS, Tenn. (AP) _ FedEx Corp. (FDX) on Thursday reported fiscal fourth-quarter net income of $1.87 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Memphis, Tennessee-based company said it had net income of $6.88. Earnings, adjusted for non-recurring gains, were $5.01 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $5.04 per share.
The package delivery company posted revenue of $22.57 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $21.74 billion.
For the year, the company reported profit of $5.23 billion, or $19.45 per share. Revenue was reported as $83.96 billion.
FedEx expects full-year earnings in the range of $20.50 to $21.50 per share.
FedEx shares have risen 17% since the beginning of the year, while the S&P's 500 index has increased 14%. In the final minutes of trading on Thursday, shares hit $303.69, more than doubling in the last 12 months.
The Associated Press