FedEx (FDX) Revenue — Quarter Ended Nov 30, 2023
Revenue for the reporting quarter increased from the prior quarter but declined compared to the same quarter last year. The sequential improvement contrasts with the year-over-year decrease.
Key takeaway
Quarter ended Nov 30, 2023 · FY2024 Q2
Revenue for the reporting quarter increased from the prior quarter but declined compared to the same quarter last year. The sequential improvement contrasts with the year-over-year decrease.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$22.2B
Revenue reported for this quarter.
Quarter-over-quarter
+2.2%
Change from the immediately preceding quarter.
Year-over-year
-2.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$87.9B
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 |
|---|---|---|
| Feb 28, 2023 | $22.2B | -6.2% |
| May 31, 2023 | $21.9B | -10.1% |
| Aug 31, 2023 | $21.7B | -6.7% |
| Nov 30, 2023 | $22.2B | -2.8% |
Revenue performance
The reported revenue rose sequentially, reflecting a rebound from the previous quarter's level. However, it remained below the year-ago figure.
Quarterly comparison
Compared to the immediately preceding quarter, revenue moved higher, ending a stretch of sequential declines. Versus the same quarter one year earlier, revenue was lower, continuing a year-over-year trend of contraction.
What to watch
Monitor whether the sequential revenue growth can be sustained given the persistent year-over-year pressure.