FedEx says first-quarter preliminary results fall short of expectations because of worse macro trends

FedEx said its first-quarter results were below company expectations as global volumes fell and macroeconomic trends deteriorated.

The company revealed preliminary first-quarter results on Thursday, in which it said FedEx Express results were capped by macroeconomic weakness in Asia and service challenges in Europe. . That resulted in a revenue shortfall of about $500 million compared to the company’s forecast.