A FedEx airplane carrying Ya Ya, a feminine large panda that has lived within the United States for 20 years, lands at Shanghai Pudong International Airport on April 27, 2023 in Shanghai, China.
Vcg | Visual China Group | Getty Images
FedEx shares tumbled 8% in after-hours buying and selling Tuesday after the package-delivery large lowered its revenue forecast as weaker demand hit gross sales.
The firm stated it expects a low-single-digit decline in revenue for the fiscal yr, down from a earlier forecast for flat gross sales year-over-year. Analysts had anticipated a revenue drop of lower than 1% within the present fiscal yr, in line with LSEG, previously often known as Refinitiv.
It’s the second consecutive quarter FedEx has lowered its gross sales outlook.
This is a growing story. Check again for updates.