FedEx beats earnings estimates, forecasts $1 billion cost savings in the next fiscal year

A FedEx truck on Cyber Monday in San Francisco, California, US, on Monday, Dec. 2, 2024.FedEx reported better-than-expected quarterly earnings and revenue Tuesday as the company announced it had achieved its $4 billion cost-cutting goal and will aim to trim another $1 billion in its upcoming fiscal year.The company achieved its "structural cost reduction target, in the face of ongoing headwinds," CEO Raj Subramaniam said in a media release."Looking ahead, I'm confident that our transformation initiatives, w ...