Cyrrus (Cyrrus)
World markets  |  September 05, 2012 09:38:31

FedEx lowered earnings guidance for the 3Q of this year, the first decline since 2009


American shipping company Fedex yesterday lowered earnings guidance for Q1 of this fiscal year from the original 1.45 to 1.60 per share to 1.37 to 1.43 USD. The company now expects its first quarterly profit decline since 2009. Management estimates decrease justify weakening world economy, which has a negative impact especially on express transportation of goods, which has a majority share of the revenues. After the conclusion of yesterday's trading on U.S. stock markets, write down 3%.

Tomáš Menčík

Addition editors: Large transport companies are closely monitored and are considered as one of the important indicators of the real state of the economy and, in this case, both the U.S. and then globally.
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