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Global disruptions created by the coronavirus pandemic depressed profits and revenue at Expeditors International in the first quarter.

Expeditors International of Washington Inc. saw revenues shoot up 18% for both the final quarter of 2018 and the fiscal year, a record-setting accomplishment which company officials attributed to growing but volatile volumes in ocean and airfreight.

Expeditors International of Washington Inc. achieved record profits and net revenue in the third quarter as the Seattle-based air and ocean freight forwarder benefited from lower taxes and kept ahead of rising transportation costs in a tight-capacity market.

Expeditors International of Washington reported a big jump in profits in the first quarter of 2018 as demand for ocean and airfreight forwarding services grew in response to a booming global economy.

Expeditors International of Washington reported strong earnings in the third quarter, with profits jumping 12% year-over-year, easily beating the consensus forecast of analysts.