FedEx shares edge up after earnings beat

FedEx Corp. shares ticked up less than 1% in the extended session Tuesday after the company beat Wall Street expectations for the bottom line. FedEx stock closed down 2% to $258.48 during regular trading. The company reported fiscal fourth-quarter net income of $1.13 billion, or $4.15 a share, compared with $1.02 billion, or $3.75 a share, in the year-ago period. Adjusted earnings were $5.91 a share. Revenue rose to $17.3 billion from $15.7 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $5.70 a share on revenue of $17.22 billion. For the fiscal first quarter, analysts model adjusted earnings of $3.86 a share on revenue of $16.5 billion. The company said it expects 9% revenue growth and adjusted earnings of $17 to $17.60. FedEx stock has gained 3.8% this year, with the S&P 500 index rising 3.8%.