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FedEx quarterly profit rises

CHICAGO, Sept 20 Package delivery company FedEx Corp on Tuesday reported a higher net profit, driven by rising revenue in its express, ground and freight business units.

The Memphis-based company posted net income for its fiscal first quarter ended Aug. 31 of $715 million or $2.65 per share, compared with $692 million or $2.42 per share a year earlier. On an adjusted basis the company earned $2.90 per share.

Analysts had on average expected earnings per share of $2.81. (Reporting by Nick Carey; Editing by Richard Chang)

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