04:49 PM EDT, 03/21/2024 (MT Newswires) -- FedEx ( FDX ) reported fiscal Q3 non-GAAP earnings late Thursday of $3.86 per diluted share, up from $3.41 a year earlier.

Analysts polled by Capital IQ expected $3.48.

Revenue in the quarter ended Feb. 29 fell to $21.7 billion from $22.2 billion a year earlier.

Analysts surveyed by Capital IQ expected $22.1 billion.

FedEx ( FDX ) expects fiscal 2024 earnings of $15.65 to $16.65 per diluted share before the MTM retirement plans accounting adjustments, compared with its prior forecast of $15.35 to $16.85.

The company sees fiscal 2024 earnings of $17.25 to $18.25 per diluted share before the MTM retirement plans accounting adjustments and excluding costs related to business optimization initiatives, versus a prior forecast of $17 to $18.50.

Analysts surveyed by Capital IQ expect fiscal 2024 earnings of $17.44.

FedEx ( FDX ) expects a low-single-digit percentage decline in revenue year over year in fiscal 2024. Analysts polled by Capital IQ expect $88.3 billion.

The board also authorized a new $5 billion share repurchase program.

Shares of the company jumped 12% in after-hours activity.

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