FedEx quarterly earnings rise, miss Wall Street estimates

[September 16, 2015]  CHICAGO (Reuters) - Package delivery company FedEx Corp on Wednesday reported a higher quarterly net profit, but missed Wall Street estimates as weak global economic conditions and the strong U.S. dollar weighed on results.

The Memphis-based company reported a fiscal 2016 first-quarter net profit of $692 million or $2.42 per share, up 6 percent from $653 million or $2.26 per share a year earlier.

Analysts had on average expected earnings per share of $2.46.

(Reporting By Nick Carey Editing by W Simon)

[© 2015 Thomson Reuters. All rights reserved.]

Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.