FedEx crushes earnings expectations, stock pops 4%

FedEx crushed second-quarter earnings expectations.

The world’s second-largest freight company posted adjusted earnings per share of $2.58, and revenues of $12.43 billion after the closing bell on Wednesday.

Analysts had projected that the company’s EPS was $2.50, and revenues totaled $12.42 billion according to Bloomberg.

In after-hours trading, shares rose by as much as 4%. FedEx shares have fallen 14% year-to-date.

The company said it expects to earn between $10.40 and $10.90 per diluted share in the fiscal 2016 year.

Refresh this page for updates.

NOW WATCH: Jim Cramer blasts the Fed’s Bullard and Lockhart for ‘not caring about the facts’

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at