The coronavirus rippled through all aspects of FedEx’s operations in recent months, leading to a drop in performance, the company reported in its fourth quarter earnings Tuesday. FedEx said the COVID-19 pandemic affected virtually all revenue and expense line items for the quarter. Earnings beat bleak Wall Street expectations, however, as the company reported adjusted earnings per share of $2.53 for the quarter, excluding some one-off expenses. That’s above the $1.42 estimate investment research firm Zacks had Tuesday morning.
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