FDX stock slumps over 14% on Wednesday after the delivery company FedEx Corporation (NYSE:FDX) reported a decline in revenue and a 12% drop in operating income for the quarter ended August 31 relative to the same quarter last year.
The company has attributed the decline to the increased costs of expansion of its delivery services and global trade disputes. It has also cited the loss of business from major customer Amazon.com Inc. (NASDAQ:AMZN).
Uninspiring Q2 Earnings and FY2020 GuidanceFedEx CEO, Fredrick Smith, stated that the company performed poorly in the quarter owing to ...
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