FedEx surges as e-commerce demand sends profit climbing

A pedestrian wearing a protective mask carries FedEx boxes in the Diamond District of New York on June 10, 2020. Foto: Bloomberg/Nina Westervelt

FedEx Corp. surged as a wave of e-commerce demand bolstered pricing power and propelled earnings amid the coronavirus pandemic.

Sales at the ground-delivery unit jumped 36% to $7 billion and operating margins rose to 11.8%, the highest in a year, FedEx said in a statement Tuesday. That helped push the courier's total earnings beyond Wall Street's highest estimate in the fiscal quarter ending Aug. 31...

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