(NYSE: FDX) delivered an earnings beat in a tough operating environment. Investors are pleased with the results, sending FedEx shares up 8% as of 10 a.m. ET.

2023 was a challenging year for the shipping industry. Concerns about the economy caused large manufacturers and retailers to take a cautious approach to inventories, which ate into demand for transportation services.

In response, FedEx and other shippers have been focused on costs.

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Source Fool.com