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FedEx Blames High Fuel Costs For Q2 Losses

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Package delivery company FedEx Corp. said Thursday its fiscal second-quarter earnings fell 6 percent, as the impact of high fuel costs and a weakening U.S. economy overshadowed international growth.

The company also released a third-quarter outlook under Wall Street's expectations and reaffirmed its outlook for the fiscal year.

For the quarter ended Nov. 30, the company earned $479 million, or $1.54 per share, compared with a year-ago profit of $511 million, or $1.64 per share.

Read the whole story at Reuters