Northern, WI 3/22/12 (StreetBeat) – FedEx (NYSE: FDX) says its profit from December through February more than doubled on higher package volume and prices at its ground and freight segments.In its fiscal third quarter, the world's second-largest package delivery company earned $521 million or $1.65 per share, compared with $231 million, or 73 cents per share, a year earlier. Excluding one-time items, FedEx earned $1.55 per share compared with 81 cents per share a year ago. The results beat both analysts' and the company's own expectations.
Revenue rose 9 percent to $10.56 billion.
FedEx Corp. is narrowing its forecast for the fiscal year ending in May. It now expects to earn $6.43 to $6.68 per share compared with between $6.25 and $6.75 per share previously. Analysts, on average, predict $6.39.
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