RTTNews | Jun 25, 2021 10:11AM EDT

10:10 Friday, June 25, 2021 (RTTNews.com) - Tennessee-based global delivery service company FedEx Corp. (FDX), is down 5% in the early trading despite the company posting a strong fourth-quarter performance Thursday.

The company turned to profit, posting a net income of $1.87 billion or $6.88 earnings per share, compared to a loss of $334 million or $1.28 loss per share last year in the same quarter. Excluding special items, the net income was $1.36 billion or $5.01 per share, compared to $663 million or $2.53 per share in the last term. The adjusted earnings beat the Street view of $4.99 per share.

Despite the positive reports, the shares are trading at $287.86, down $15.08 or 4.98% from their previous close at $302.94. The market opened at $292.74 and in the 52-week period, the company has traded between $129.28 and $319.90.

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