Strong economy and higher rates boost FedEx quarterly profit

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Bad weather and peak season costs did not leave too much of a mark on FedEx’s Q3 “mixed bag” results. The express courier reported a successive quarterly increase in revenues that were also up $1.5bn year-on-year. Reuters reports that revenues for the three-month period hit $16.5bn (slightly shy of analyst expectations of $16.6bn) aided by strong volume gains and changes to US tax law. Although bad weather in the US, higher peak-related costs, and the ongoing expense of integrating TNT, dented quarterly profits. You can see the full results here.