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FedEx Fears It Will Be Hit By Trade War

Video Credit: Wochit - Duration: 00:31s - Published
FedEx Fears It Will Be Hit By Trade War

FedEx Fears It Will Be Hit By Trade War

REUTERS/Mike Blake (Reuters) - Package delivery company FedEx Corp beat Wall Street estimates for quarterly profit on Tuesday, but warned its fiscal 2020 performance would be hurt by trade uncertainty and non-renewal of Amazon contract, sending its shares down 2%.

Adjusted net income fell to $1.32 billion, or $5.01 per share, for the fourth-quarter ended May 31, from $1.60 billion, or $5.91 per share, a year earlier.

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