China’s China Post shares rise as freight freight prices rise

China Post, the country’s largest freight delivery company, reported second-quarter profit on Wednesday that beat Wall Street expectations.

The company reported $8.8 billion in operating profit, beating analysts’ expectations of $9.1 billion.

That was down from $9 billion a year ago.

Analysts polled by Bloomberg had expected $9-10 billion.

China Post also raised its revenue forecast for the year from $13.9 billion to $14.4 billion, to $15 billion.

China Post’s stock rose 2.4 percent to 3,868 yuan ($38.76) in Beijing.

The stock gained nearly 10 percent in after-hours trading.

China’s government has been pushing for a more aggressive anti-corruption campaign in the wake of the disappearance of five students and the conviction of a fifth.