FedEx second-quarter profit misses estimate; revs drop at biggest unit - Reuters
FedEx said revenue at its bigger express shipping segment dipped to $6.84 billion from last year`s $6.86 billion. The unit has suffered as clients choose slower, cheaper delivery options. FedEx has been revamping routes and trimming capacity to Asia and other international markets to stanch the decline.
However, Benjamin Hartford, an analyst of Baird & Co, said the improvement in the unit's margins was likely to protect the stock from falling.
FedEx said revenue at its bigger express shipping segment dipped to $6.84 billion from last year`s $6.86 billion. The unit has suffered as clients choose slower, cheaper delivery options. FedEx has been revamping routes and trimming capacity to Asia and other international markets to stanch the decline.
However, Benjamin Hartford, an analyst of Baird & Co, said the improvement in the unit's margins was likely to protect the stock from falling.
