FedEx Benefits From Higher Prices as Package Volumes Slip

FedEx Corp. ’s revenue rose 10% in the fiscal third quarter, as higher shipping rates made up for shipping fewer packages overall.

The delivery giant’s profit rose 25% from a year earlier to $1.1 billion, led by its smallest unit, Freight, where operating income nearly tripled on higher rates. FedEx said all its divisions were helped by the company raising of fuel surcharges on shipments at a faster pace than fuel costs rose.

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