Lets look at this objectively, yes SOME business has dropped off (while some are getting way more volume, my station is blown out business and resi) . However ALL resi has picked up significantly.
Is it possible that the drop in business and loss from that is being at minimum made up by the huge increase in resi....
Yes fedex has taken a hit overall from business but the increase in resi is at least covering if not improving the profit.
Lets not forget FedEx said they would be adding more surcharges to big shippers, resi also has a resi surcharge already per pkg, some (not sure if all) international was getting a covid surcharge. International will now have signature options (obviously for a fee).
You can't argue that they are not making money hand over fist here.