FedEx is facing a big downturn.

JankariGyan Created By Sweti 25 Sept 2022

In the midst of a difficult economic environment, FedEx isn't delivering, and that's got Wall Street worried.

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In the last quarter, it processed less packages due to "weakening economic conditions"

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and operating earnings and operating earnings of FedEx Express and operating income of FedEx Express fell 69% as per FedEx's most recent earnings report published on Thursday.

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The costs of its ground transportation increased, and the company is planning to increase the cost by 7 percent, on average.

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The announcement comes on the following shocking announcement this week that the business was experiencing problems.

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In the wake of that announcement, the price of FedEx's stock fell to more than 20 percent and some of its competitors like UPS as well as XPO Logistics, also lost ground.

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$193,000 flying car requires only a driver’s license

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