FedEx Corp., Memphis, Tenn., reported higher profits on increased volume for the quarter ended August 31.

The carrier posted earnings of $1.08 per diluted share compared to $0.42 per diluted share a year ago, an increase of 157%.
FedEx Corp. reported the following consolidated results for the first quarter:
-- Revenue of $6.98 billion, up 23% from $5.69 billion the previous year
-- Operating income of $579 million, up from $200 million a year ago
-- Operating margin of 8.3%, up from last year's 3.5%
-- Net income of $330 million, up from $128 million the previous year
Total average daily package volume at FedEx Express and FedEx Ground grew a combined 6% year over year for the quarter, due to continued strong growth in international express shipments and higher growth in ground shipments. FedEx Freight average daily LTL shipment volume increased 14%. Revenue per package increased at both FedEx Express and FedEx Ground, while LTL revenue per hundredweight grew at FedEx Freight.
For more information visit www.fedex.com.
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