FedEx: NotPetya Cost $300m, Wrecked Q1 Earnings
“FedEx, the worldwide package delivery giant, said in a regulatory filing on Tuesday that the NotPetya ransomware outbreak in late June has cost it an estimated $300 million dollars and forced the company to miss its fiscal first quarter earnings.
The company said in its quarterly ‘8K’ report to the U.S. Securities and Exchange Commission (SEC) that the impact of NotPetya on TNT Express N.V., a newly acquired subsidiary based in The Netherlands.
‘Worldwide operations of TNT Express were significantly affected during the first quarter by the June 27 NotPetya cyberattack,’ the company reported. The subsidiary has restored ‘substantially all’ critical operational systems but ‘volume, revenue and profit still remain below previous levels.’”