LOS ANGELES, June 24 (Reuters) - FedEx ( FDX ) reported

better-than-expected quarterly profit, after cost cuts and

improved export volumes pushed operating margins higher, and

signaled caution ahead with a forecast for the current quarter

that was short of analysts' target.

The Memphis-based package delivery firm's adjusted profit

was $1.46 billion, or $6.07 per share, for the fiscal fourth

quarter ended May 31. That was up from adjusted profit of $1.34

billion, or $5.41 per share, a year earlier.

Revenue was up just 0.5% to $22.2 billion.

Analysts, on average, expected earnings of $5.81 per share

on revenue of $21.79 billion, according to data compiled by

LSEG.

FedEx ( FDX ) forecasts fiscal first quarter adjusted profit of $3.40

to $4 per share, below analysts' estimates of $4.06 per share,

according to LSEG.