Package delivery giant and U.S. economic bellwether FedEx Corp
The company reported a profit of $181 million, or 58 cents a share, for the first quarter ended on August 31, down 53 percent from $384 million, or $1.23 a share, a year earlier.
Revenue fell 20 percent to $8.01 billion.
The financials were better than Wall Street had expected for much of the past quarter -- but were not a surprise.
Last week, the Memphis, Tennessee-based company preannounced its results, saying it would report first-quarter earnings of 58 cents a share and second-quarter earnings in a range of 65 cents to 95 cents -- an outlook it reiterated on Thursday.
At the time of the preannouncement, analysts had expected FedEx to report earnings of 43 cents a share for the first quarter and 70 cents for the second quarter.
FedEx shares fell to less than 1 percent to $77.70 in trading before the market opened.
(Reporting by James B. Kelleher; Editing by Lisa Von Ahn)