(Reuters) – FedEx Corp <FDX.N> reported a 14.3% drop in first-quarter profit on Tuesday, as the U.S. package delivery company grapples with a slowing economy and the U.S.-China tariff war.
The company’s shares were down nearly 7% in after-market trading.
Adjusted net income fell to $800 million, or $3.05 per share, in the quarter ended Aug. 31, from $933 million, or $3.46 per share, a year earlier.
Revenue was flat at $17.05 billion.
(Reporting by Sanjana Shivdas in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Shounak Dasgupta)