FedEx stock pops after delivering a Q3 earnings beat, raised 2023 fiscal outlook

The Yahoo Finance Live team discusses the latest quarterly results from FedEx.

Video transcript

- We want to get to some breaking news. FedEx is out with its earnings report, and you can see shares popping just about 7.5%. A lot of this has to do with the guidance that we're going to hear from FedEx, the company upping its fiscal 2023 outlook, their full-year guidance for adjusted EPS coming in better than expected.

The company now seeing $14.60 per share to $15.20 per share. They initially saw $13 to $14 a share when it comes to its most recent quarter, its fiscal third quarter here for FedEx. That was a bit mixed, the company saying that it was negatively affected by continued demand weakness.

Adjusted EPS did beat the Street's expectations, coming in at $3.41. Revenue, though, you can see it on your screen, just a slight miss there, $22.2 billion. The Street was expecting $22.7 billion, but again, the move after hours all about the guidance, the fact that FedEx upped its 2023 outlook, and you're looking at shares popping just almost 8%.