MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Wednesday reported fiscal first-quarter net income of $1.08 billion.

The Memphis, Tennessee-based company said it had profit of $4.23 per share. Earnings, adjusted for non-recurring costs, came to $4.55 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.70 per share.

The package delivery company posted revenue of $21.68 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $21.84 billion.

FedEx expects full-year earnings in the range of $17 to $18.50 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FDX at https://www.zacks.com/ap/FDX