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CORRECTED-UPDATE 1-FedEx profit soars with pandemic-fueled delivery demand

(Corrects revenue in paragraph 2)

March 18 (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 home e-commerce deliveries.

Fiscal third-quarter adjusted net income at the Memphis-based company soared 153% to $939 million, or $3.47 per share, versus the year-earlier period. Analysts expected earnings of $3.23 per share, according to Refinitiv data.

Revenue for the quarter ended Feb. 28 grew 23% to $21.5 billion.

FedEx shares, which have more than doubled in price since the pandemic forced government officials to shutter businesses and issue stay-at-home orders a year ago, were up 1.8% to $268.37 in extended trading on Thursday.

FedEx and rival United Parcel Service hiked prices to shelter profits after the pandemic hammered its high-margin shipments between businesses and unleashed a flood of deliveries of online orders - including bulky items like exercise bikes and sofas. (Reporting by Lisa Baertlein in Los Angeles Editing by Chris Reese)

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