(Reuters) – FedEx Corp (FDX.N) reported quarterly profit that missed Wall Street estimates on Monday, as employee compensation and other expenses weighed on margins.
FILE PHOTO: A package of the FedEx courier delivery services company is pictured in this June 8, 2017 illustration photo. REUTERS/Carlos Jasso/Illustration
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