A FedEx plane carrying Ya Ya, a female giant panda that has lived in the US 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 trading Tuesday after the package-delivery giant lowered its revenue forecast as weaker demand hit sales.
The corporate said it expects a low-single-digit decline in revenue for the fiscal yr, down from a previous forecast for flat sales year-over-year. Analysts had expected a revenue drop of lower than 1% in the present fiscal yr, based on LSEG, formerly often known as Refinitiv.
It is the second consecutive quarter FedEx has lowered its sales outlook.
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