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FedEx explained its 1st-quarter benefits are beneath the company’s expectations as international volumes decline and macroeconomic tendencies worsened.
The firm disclosed preliminary 1st-quarter benefits on Thursday, in which it said FedEx Convey final results had been curbed by macroeconomic weakness in Asia and services problems in Europe. That led to a earnings shortfall of about $500 million in contrast with the company’s forecast.
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