FedEx has slashed its profit forecast amid fears for the global economy, but denied analysts’ claims that Amazon is becoming too strong a competitor.
The company announced that its second quarter adjusted non-GAAP results saw net income of $1.08bn on the back of revenues of $17.8bn.
But all eyes were on its warnings about the global economy – and its thoughts on Amazon.
“Internationally, economic strength seen earlier this year has given way …
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Source: The Loadstar