Fedex Q3 profits fall from year ago

By @ibtimes on

FedEx Corp, the world's largest cargo airline, reported lower quarterly profit and said higher oil prices could impact 2011 earnings.

The No. 2 package delivery company said net profit for the fiscal third quarter ended February 28 fell 3 percent to $231 million, or 73 cents per share, from $239 million, or 76 cents per share, a year ago.

Revenue for the Memphis, Tennessee-based company rose 11 percent to $9.66 billion. Analysts had expected $9.61 billion on average, according to Thomson Reuters I/B/E/S.

(Reporting by Lynn Adler; editing by John Wallace)

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