Thndr Claps » U.S. Claps » NYSE 🔔 » FedEx records disappointing quarter 📦
The ClapFedEx (NYSE: FDX) is looking to significantly cut costs amid disappointing performance during the quarter.The DeetsFedEX will close 90 offices, 5 corporate offices facilities, postpone hiring, cancel projects, and reduce flights after earnings came in lower than expected.The company recorded EPS of $3.44 per share, much lower than the expected $5.14 per share, while revenues were recorded at $23.2 billion, less than the expected $23.59 during the fiscal Q1 2023.What this DidThe poor earnings pushed the company to withdraw its forecast for the year, as market and environmental instability continues to effect the company’s performance.Why this MattersFedEx’s stock price fell over 15% following the earnings report.
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