By Shivansh Tiwary, Lisa Baertlein (Reuters) -Shares of FedEx slumped over 15% on Friday, the worst in two years, after a dismal first-quarter profit drop due to anemic economic conditions and an ongoing customer shift toward slower,

FedEx stock is plunging Friday after the logistics giant came up short of earnings expectations and revised its full-year outlook. Here's what you need to know.

FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

By Shivansh Tiwary (Reuters) -Shares of FedEx slumped 15% on Friday, on track for their worst day in two years, after dismal first-quarter results, in what analysts attributed to a combination of broader economic concerns and an unfavorable shift in the company's sales from higher-priced deliveries.

The package-delivery giant said reduced demand for priority services and higher operating costs weighed on its results.

Key Takeaways FedEx lowered its revenue and earnings outlook for fiscal 2025.The company's fiscal first-quarter results missed analysts' expectations on the top and bottom lines amid weaker demand for its priority shipping services.