The report of the FedEx Corporation, which provides logistics services worldwide, for the fourth fiscal quarter to May 31 showed that its net loss was $1.97 billion, whereas a year earlier it reported a net profit of $1.13 billion. Adjusted earnings dropped to $5.01 per share. Economists had expected a further fall – up to 4.85 dollars per share. At the same time, quarterly revenue rose to 17.8 billion dollars against the previous year’s 17.3 billion dollars. In the past quarter, revenue growth by 11% was recorded by the ground delivery unit, while the rate of express delivery units decreased by 1%. The company explains weak quarterly figures by weakening global growth and switching its customers to cheaper delivery options from January of this year, which is now carried out 6 days a week throughout the year, and not just on holidays. FedEx completed the entire fiscal year with a decline in net profit of up to $540 million and an increase in revenue to $69.7 billion.