<p>NEW YORK — FedEx said Thursday that its profit nearly tripled in its most recent quarter, despite winter weather that hobbled some of its facilities. </p>
<p>Online shopping has surged during the pandemic as more people avoid going inside stores. That has made package delivery companies like FedEx in high demand. </p>
<p>CEO Frederick Smith said he expects demand to “remain very high for the foreseeable future.” </p>
<p>Besides delivering shoppers’ orders, the company has also been shipping COVID-19 vaccines, which Smith called "the most important work in the history of FedEx.” </p>
<p>The Memphis, Tennessee-based company reported net income of $892 million for the three months ending Feb. 28, compared with $315 million in the same period the year before. </p>
<p>Adjusted earnings came to $3.47 per share, beating Wall Street expectations, according to Zacks Investment Research.</p>
<p>FedEx said icy weather last month hindered several of its facilities, including some of its largest ones in Indiana, Tennessee and Texas, causing it to lose $350 million in operating income. </p>
<p>The company said revenue rose 23% to $21.5 billion, also beating expectations. </p>
<p>Shares of FedEx Corp., which have more than doubled in the last year, rose 3.7% to $273.13 in after-hours trading Thursday. </p>
