FedEx (FDX) Revenue — Quarter Ended Aug 31, 2023
Revenue declined in the latest quarter compared to both the prior quarter and the same period a year earlier. The sequential and year-over-year decreases reflect a continued downward trend in top-line performance.
Key takeaway
Quarter ended Aug 31, 2023 · FY2024 Q1
Revenue declined in the latest quarter compared to both the prior quarter and the same period a year earlier. The sequential and year-over-year decreases reflect a continued downward trend in top-line performance.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$21.7B
Revenue reported for this quarter.
Quarter-over-quarter
-1.1%
Change from the immediately preceding quarter.
Year-over-year
-6.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$88.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Nov 30, 2022 | $22.8B | -2.8% |
| Feb 28, 2023 | $22.2B | -6.2% |
| May 31, 2023 | $21.9B | -10.1% |
| Aug 31, 2023 | $21.7B | -6.7% |
Revenue performance
Reported revenue was down from the previous quarter and also lower than the same quarter last year. The company experienced a decrease in revenue for this period.
Quarterly comparison
Compared to the immediately preceding quarter, revenue showed a slight decline. When measured against the same quarter one year earlier, the reduction was more pronounced.
What to watch
The persistent year-over-year revenue decline is a key point to watch in coming quarters.