Reported 18 days ago
FedEx Corp experienced a significant drop in its stock price after revising its annual revenue forecast downward amid a notable decline in profits, attributed to weak demand for higher-margin express delivery services. Shares fell nearly 13% in premarket trading as the company reported that customers were cutting costs by reducing priority shipments. FedEx also announced a change in service preferences and indicated challenges in the industrial economy, leading to a revision of expected revenue growth for fiscal 2025.
Source: YAHOO