US-based FedEx Corp. reported a fiscal third-quarter net profit of $507 million, down 19% from net income of $628 million earned in the prior-year quarter, but the company pointed to rising revenue and a strong performance in its FedEx Express airline segment. The net profit decline for the quarter ended Feb. 29 is largely attributable to a one-time charge of $204 million for the settlement of a legal matter in the company’s FedEx Ground unit related to contract drivers. FedEx also ...
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