FedEx beats expectations, raises outlook in first report since calendar adjustment

FedEx on Wednesday reported quarterly earnings that beat Wall Street expectations on the top and bottom lines and raised its full-year outlook for its newly realigned fiscal year. Here's how the company performed for the period ended Sept. 30 compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The company reported net income for the quarter of $290 million, or $1.21 per share, compared with $650 million, or $2.73 per share, during the comparable period a year prior. Adjusting for one-time items — including losses related to short-term investments, gains on the extinguishment of debt and certain restructuring costs — FedEx reported adjusted earnings per share of $3.74.