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FedEx shares tick down after earnings beat

FedEx Corp. FDX, -3.06% shares fell more than 1% in the extended session Tuesday after the company beat earnings expectations and met consensus revenue models.

The company reported fourth-quarter net losses of $1.97 billion, or $7.56 a share, compared with net income of $1.13 billion, or $4.15 a share, in the year-ago period. Adjusted for items such as retirement-plan accounting and business integration costs, among other things, earnings were $5.01 a share.

Revenue rose to $17.8 billion from $17.3 billion in the year-ago period.

Analysts surveyed by FactSet had estimated adjusted earnings of $4.85 a share on revenue of $17.8 billion.

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