FedEx profit soars with pandemic-fueled delivery demand

(Reuters) – U.S. delivery firm FedEx Corp on Thursday said quarterly profit jumped more than expected on higher prices and surging volume from pandemic-fueled e-commerce deliveries during the holiday shipping season. FedEx shares have more than doubled in price since a year ago, when the pandemic forced government officials to shutter businesses and issue stay-at-home orders. On Thursday they jumped 4% to $274 in extended trading after founder and Chief Executive Frederick Smith said he expected demand for e-commerce and international express services to “remain very high for the foreseeable f…

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