Reported 17 days ago
FedEx has announced a significant revenue decline of $21.6 billion in Q1 2024, down from $21.7 billion the previous year, attributed to weaker demand in the industrial sector and a shift from priority to deferred shipping services. The company also experienced a 23% decrease in net income and is adjusting its revenue growth expectations for the upcoming fiscal year, reflecting broader consumer trends impacting small businesses amid inflationary pressures.
Source: YAHOO