FedEx: Fiscal Q1 Earnings Snapshot

MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Thursday reported fiscal first-quarter profit of $824 million.

On a per-share basis, the Memphis, Tennessee-based company said it had profit of $3.46. Earnings, adjusted for non-recurring costs, came to $3.83 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.65 per share.

The package delivery company posted revenue of $22.24 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $21.78 billion.

FedEx expects full-year earnings in the range of $17.20 to $19 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FDX at https://www.zacks.com/ap/FDX