Investing.com - Global shipping giant FedEx Corporation (NYSE:FDX) reported better than expected fiscal third quarter earnings early Wednesday, sending its shares higher in pre-market trade.
FedEx said earnings per share came in at $2.01, above expectations for earnings of $1.88 per share. The company’s third quarter revenue totaled $11.7 billion, broadly in line with forecasts for revenue of $11.79 billion.
"We had a very successful peak season as volumes grew across all transportation segments, and our profit improvement programs are moving ahead as scheduled," said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer.
FedEx projects earnings to be $8.80 to $8.95 per diluted share for fiscal 2015. This outlook assumes continued moderate global economic growth. The capital spending forecast for fiscal 2015 remains $4.2 billion.
Following the release of the report, shares in FedEx jumped 1.26% in pre-market trade to $178.00 from a closing price of $175.79 on Tuesday.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow futures indicated a loss of 0.5% at the open, the S&P 500 pointed to a drop of 0.4%, while the Nasdaq 100 indicated a decline of 0.3%.