FedEx says cyber attack to hurt full-year results

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(Reuters) – Package delivery company FedEx Corp (FDX.N) said a disruption in services in its TNT Express unit following a cyber attack last month would hurt its full-year results.

FedEx’s shares fell as much as 3.4 percent to $211.53 in early trading as the company said the financial impact of the disruption on its results was likely to be “material”.

The Netherlands-based TNT Express is still experiencing widespread service delays following the attack, caused by the Petya cyber virus that spread through a Ukrainian tax software product, FedEx said.

FedEx said it lost revenue due to decreased volumes at TNT Express and incurred incremental costs from contingency plans and remediation of affected systems.

The company said it did not have an insurance in place that covered the impact from the cyber attack.

FILE PHOTO – The TNT Express logo is pictured at the headquarters in Hoofddorp April 7, 2015.Toussaint Kluiters/United Photos

FedEx, which is evaluating the financial impact…



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