Package delivery company FedEx Corp said on Tuesday quarterly profit rose more than expected on stronger revenue in its express, ground and freight business units, lifting its stock by almost 3%.

This was the first full quarter since FedEx fdx completed its $4.8 billion acquisition of Dutch package delivery company TNT Express in May.

“As we integrate these networks and take advantage of the unmatched road capabilities of TNT Express, I am confident there is going to be a tremendous opportunity to increase” FedEx earnings, Chief Financial Officer Alan Graf said in a statement.

Excluding TNT integration costs, FedEx said it expected full-year fiscal 2017 earnings of $11.85 to $13.35 per share. Analysts’ consensus forecast is $11.93.

Like main rival United Parcel Service ups , FedEx is seen as a bellwether of U.S. economic activity.

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FedEx said it expects moderate economic growth, with U.S. gross domestic product up 1.6% in 2016 and rising 2.3% in 2017.

U.S. industrial production should fall 0.7% this year and grow 2.2% in 2017, FedEx estimated.

Memphis-based FedEx posted net income for its fiscal first quarter ended Aug. 31 of $715 million or $2.65 per share, compared with $692 million or $2.42 per share a year earlier. On an adjusted basis the company earned $2.90 per share.

Analysts had on average expected earnings per share of $2.81.

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Revenue rose to $14.7 billion from $12.3 billion, above analysts’ expectations of $14.61 billion.

Margins rose at the company’s FedEx Ground unit as average daily package volumes rose 10% over the previous year, driven by e-commerce. But margins fell at its Express and Freight units.

Revenue at TNT was $1.8 billion, unchanged from the year-ago quarter. Restructuring and integration costs totaled $20 million, FedEx said. The company also incurred $28 million in intangible asset amortization expenses for TNT in the quarter.

Edward Jones analyst Logan Purk said FedEx’s results reflected a solid performance in both its express and ground units.

“But investors want more details about TNT and rightfully so because this is a massive acquisition, it’s a bit of a game changer for them,” Purk said. “I would love more details too but I am going to give FedEx management the benefit of the doubt because this is a new acquisition and it’s a moving target for them.”

In after-market trading, FedEx shares rose to $167.40 from a closing price of $162.65.