9:40 a.m. ET -- FedEx is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. FedEx reported higher profit in its second quarter as weaker demand continued to pressure revenue. The company posted a profit of $900 million, or $3.55 a share, in the quarter, compared with $788 million, or $3.07 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $3.97. Stripping out certain one-time items, adjusted per-share earnings came to $3.99, below the $4.19 forecast by analysts, according to FactSet. Revenue fell to $22.2 billion from $22.8 billion a year earlier, missing the $22.36 billion expected by analysts polled by FactSet. Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)

(END) Dow Jones Newswires

December 20, 2023 09:56 ET (14:56 GMT)

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