FedEx Profit Rises on Higher Volume
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From Associated Press
FedEx Corp. reported that fiscal first quarter-profit rose modestly after an accounting change, but an increase in daily package volume helped the shipping company exceed analyst expectations.
Memphis, Tenn.-based FedEx earned $339 million, or $1.10 a share, up from $330 million, or $1.08, last year. Revenue for the quarter ended Aug. 31 rose 10% to $7.71 billion.
FedEx shares jumped $6.15 to $83.15.
