FedEx profit hit by fuel, global economy - Reuters
Package delivery company FedEx Corp (FDX.N) reported quarterly profit in line with estimates, but said earnings had been hurt by challenging global economic conditions and high fuel prices.
The Memphis, Tennessee-based company reported a first-quarter fiscal 2009 net profit of $384 million, or $1.23 a share, compared with $494 million, or $1.58 a share, a year earlier.
Package delivery company FedEx Corp (FDX.N) reported quarterly profit in line with estimates, but said earnings had been hurt by challenging global economic conditions and high fuel prices.
The Memphis, Tennessee-based company reported a first-quarter fiscal 2009 net profit of $384 million, or $1.23 a share, compared with $494 million, or $1.58 a share, a year earlier.
