Biz Brief: FedEx Earnings Narrowly Beat Estimates

FedEx (FDX), the world's second-largest shipping company reported earnings Wednesday of $1.33 per diluted share for the fourth quarter ended May 31, narrowly beating estimates.

Analysts expected FedEx to report fiscal-fourth quarter earnings of $1.32 a share, according to data from Thomson Reuters. That's more than double the 64 cents a share booked in the prior-year period and at the higher end of management's guidance of $1.17 to $1.37 a share. Revenue estimates were expected to show growth of 15% to $9.04 billion from $7.85 billion a year ago.

CEO Frederick W. Smith said "We ended our fiscal year a stronger company, and I am confident FedEx is very well positioned for future revenue and earnings growth."

Read more about FedEx's earnings.