FedEx saw revenues and profits decline in its fiscal first quarter as the company faced challenging market conditions, customers opted for less expensive

FedEx lowered its full-year revenue forecast and missed Wall Street estimates for first-quarter profit on Thursday as customers continued to trade down from speedy, pricey delivery to cheaper, slower options.

The package-delivery giant said reduced demand for priority services and higher operating costs weighed on results.

FedEx’s results were dragged down by weaker-than-expected demand, particularly in the U.S. domestic package market.

By Shivansh Tiwary, Lisa Baertlein (Reuters) -Shares of FedEx slumped over 15% on Friday, the worst in two years, after a dismal first-quarter profit drop due to anemic economic conditions and an ongoing customer shift toward slower,

Key Takeaways FedEx lowered its revenue and earnings outlook for fiscal 2025.The company's fiscal first-quarter results missed analysts' expectations on the top and bottom lines amid weaker demand for its priority shipping services.

FedEx (NYSE:FDX) shares continue to lose ground as disappointing fiscal Q1 results coupled with downbeat guidance drives shares to a 12-week low on Friday and is reverberating through the transportation/delivery/logistics sector.

FedEx Corp shares slumped on Friday after the parcel giant cut its annual revenue forecast and reported a sharp fall in profits, owing to weak demand for high-margin speedy delivery services. Shares of the company were down nearly 13 per cent in premarket trading,