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FedEx says cyber attack to hurt its fiscal 2018 results

The company said it was unable to estimate when services at the unit would be fully restored

Reuters 

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Package delivery company Corp said its fiscal 2018 would be hurt in part due to disruption of operations in its TNT Express unit following a last month.

The Netherlands-based TNT Express is still experiencing widespread service delays following the attack, said in a regulatory filing on Monday.

said it was unable to estimate when services at the unit would be fully restored. 

added that no or to third parties is known to have occurred as of July 17.

The company said it was evaluating the financial impact of the attack, but it was likely to be "material".

Shares of fell as much as 2.7 per cent to $213.07 in early trading.

In June, a new virus spread from Ukraine to wreak havoc around the globe, crippling thousands of computers.

said it has experienced loss of revenue due to decreased volumes at TNT Express, 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

 

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