FedEx Posts Earnings Per Share of $1.39 vs Expectations of $1.41

FedEx (FDX) reported quarterly earnings and revenue that missed analysts' expectations on Wednesday.

The company cited weakness in its air network and the effect of Superstorm Sandy for the second-quarter shortfall.

After the earnings announcement, the company's shares slipped 0.4 percent in pre-market trading.

The company posted earnings excluding items of $1.39 per share, down from $1.57 a share in the year-earlier period.

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Revenue increased to $11.1 billion from $10.59 billion a year ago.

Analysts had expected the company to report earnings excluding items of $1.41 a share on $10.84 billion in revenue, according to a consensus estimate from Thomson Reuters.

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