Global shipping company FedEx Corporation on Wednesday reported quarterly results that missed Wall Street estimates as revenue declined at its biggest unit. FedEx fiscal second-quarter profit rose 14 percent to $500 million from $438 million in the same period a year ago. Despite the increase, analysts had expected much stronger profit. Revenue rose 3 percent to $11.4 billion, just short of analyst estimates. Revenue at its largest unit, Express Delivery, fell to $6.84 billion from $6.86 billion in the same period last year. The unit has suffered as clients choose slower, cheaper delivery options. FedEx, seen as a gauge of the global economy because of the scope of its business, predicted a strong year-end holiday season and healthy full-year 2013 results. It sees full-year profit-per-share growth between 7 percent and 13 percent.
