FedEx bullish for the full year

FedEx raised its full-year earnings forecast yesterday but its quarterly results missed forecasts. It sees full-year earnings per share growth between eight and 14 per cent above last year, up from its previous forecast of between seven and 13 per cent. FedEx earned $500m, or $1.57 a share, in the second quarter ended 30 November, versus $438m, or $1.39, in the same quarter last year. Revenue at its express delivery unit fell to $6.84bn from $6.86bn last year.

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