FedEx Stock Up After Beating Earnings Estimates But Missing on Revenue

FedEx reported better-than-expected Q3 earnings but missed on revenue forecasts, citing economic uncertainty. The stock jumped 12% after hours.

Revenue fell 2% to $21.74 billion, missing estimates, while EPS beat at $3.86 per share.

FedEx narrowed full-year EPS guidance to $17.25-$18.25 per share, citing volatile macro conditions affecting demand.

FedEx says it's in negotiations for a new multi-year contract with the USPS, with the current deal expiring in September.

Rivals UPS and Amazon continue to gain ground on FedEx in parcel delivery volume, though USPS remains the largest by volume.