Investing.com - Global shipping giant FedEx (NYSE:FDX) reported better than expected fiscal first quarter earnings and revenue figures early Wednesday, sending its shares higher in pre-market trade.
FedEx said earnings per share came in at $2.10, above expectations for earnings of $1.96 per share. The company’s first quarter revenue totaled $11.7 billion, beating forecasts for revenue of $11.47 billion.
"FedEx Corp. is off to an outstanding start in fiscal 2015, thanks to very strong performance at FedEx Ground, solid volume and revenue increases at FedEx Freight and healthy growth in U.S. domestic volume at FedEx Express," said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer.
FedEx reaffirmed its fiscal 2015 earnings forecast of $8.50 to $9.00 per diluted share. The outlook assumes no net year-over-year fuel impact and continued moderate economic growth. The capital spending forecast for fiscal 2015 remains $4.2 billion.
Following the release of the report, shares in FedEx (NYSE:FDX) jumped 2.7% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets remained mixed. The Dow 30 indicated a gain of 0.1% at the open, the S&P 500 pointed to an increase of 0.1%, while the NASDAQ 100 indicated a decline of 0.1%.