"FedEx's Strategic Cost Reductions Propel Earnings, Shares Soar"

FedEx Corp (NYSE: FDX) exceeded earnings expectations for the third quarter, reporting a revenue of $21.7 billion and a net income of $879 million. The company's strategic cost reduction initiatives, particularly the DRIVE program, contributed to a 19% increase in operating income. Additionally, FedEx announced a $500 million share repurchase in Q4 and a new $5 billion repurchase program, while narrowing its full-year earnings outlook. Despite challenges in certain segments, the company remains committed to long-term growth and shareholder returns through ongoing transformation efforts and network optimization.