FedEx Profit Soars – Full-Year Forecast Is Raised

Category Business | Thursday, March 18th, 2010

FedEx Corp. said its fiscal third-quarter profit more than doubled, as rising global trade volume offset a loss at the company’s domestic trucking unit.

The package shipper also raised its 2010 earnings guidance alongside higher capital expenditure for the airline freight unit, whose performance drove the improvement in the latest quarter.

Chairman and Chief Executive Fred Smith said during a conference call Thursday that the global economic recovery is broadening, with rising business from China, the U.K. and Canada driving a 62% year-to-year rise in the company’s International Priority shipments.

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