Investing.com - FedEx (NYSE:FDX) shares dropped in after-hours trading after the company cut its 2020 earnings forecast in the face of trade tensions and global economic uncertainty.
FedEx (NYSE:FDX) said it now expects to earn $11 to $13 per share for 2020, compared with the consensus estimate of $14.62 from S&P Capital IQ.
The stock fell 7.8% postmarket.
FedEx (NYSE:FDX) reported a quarterly profit of $3.05 per share, shy of forecasts compiled by Investing.com of $3.17 per share. Revenue of $17.05 billion was slightly below expectations of $17.09 billion.