September 17, 2018 / 8:36 PM / 3 months ago

FedEx quarterly profit misses Wall Street estimate

Sept 17 (Reuters) - FedEx Corp reported quarterly profit that missed Wall Street estimates on Monday, as employee compensation and other expenses weighed on margins.

The Memphis-based package delivery company's net profit rose to $835 million, or $3.10 per share, for the fiscal first quarter ended Aug. 31, up from $596 million, or $2.19 per share, a year earlier. Profit excluding items was $3.46 per share, missing analysts' average estimate of $3.81, according to Thomson Reuters I/B/E/S. (Reporting by Lisa Baertlein in Los Angeles Editing by Phil Berlowitz)

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