FedEx reported revenue of $21.6 billion and adjusted earnings of $3.60 per share, well below our estimates of $22.1 billion, and $4.90, respectively.

FedEx has lowered its full-year outlook, expecting low-single-digit-percent revenue growth year over year, down from its previous projection of a low-to-mid-single-digit increase. It expects earnings per diluted share to range from $17.90 to $18.90, compared to the earlier forecast of $18.25 to $20.25.

The economy just isn’t helping, and there is a troubling shift happening which shows why the Fed just cut benchmark interest rates. FedEx reported Thursday evening adjusted earn