The Canadian PressJune 19, 2013 09:03
DALLAS - FedEx Corp.'s fourth-quarter profit fell 45 per cent as international customers traded down to less-expensive delivery options.
Excluding charges, the results still beat Wall Street expectations. But the company's forecast for the next 12 months was shy of Wall Street forecasts and shares fell in premarket trading.
The world's second-largest package delivery company said Wednesday that it earned $303 million, or 95 cents per share, in the fourth quarter ended May 31. That's down from $550 million, or $1.73 per share, a year ago.