FedEx Corp. reported a $181 million net profit in its fiscal first quarter ended Aug. 31, down 53% from the $384 million earned in the year-ago period, as operating income at its FedEx Express segment plunged 70% to $104 million. Chairman, President and CEO Frederick Smith said that "better-than-expected FedEx International Priority volume" and "decisive management actions" boosted the result "above our initial expectations." Company revenue fell 20% to $8.01 billion, expenses were down 18% ...

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