FedEx Cyber $ Loss 40x More than Harvey

FedEx said on Tuesday a June cyber attack on its Dutch unit slashed $300 million from its Q1 2018 profit and the company lowered its full-year earnings forecast.

FedEx reported the negative impact of the June 27 cyber attack was $0.79 per diluted share while the negative impact of Hurricane Harvey was $0.02 per diluted share.

FedEx joins a number of companies reporting big earnings drops due to the NotPetya virus in June, crippling Ukraine businesses before spreading worldwide to shut down shipping ports, factories and corporate offices.

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