May 1 (Reuters) - Logistics company C.H. Robinson ( CHRW )

reported first-quarter revenue above Wall Street

estimates on Wednesday, helped by higher pricing and increased

volume in its ocean services and truckload units.

Revenue from its global forwarding unit, which deals with

ocean and air freight, rose 8.7% to $858.6 million, compared

with $790 million a year ago.

The company's total revenue decreased 4.3% to $4.41 billion,

but beat analysts' estimate of $4.27 billion, according to LSEG

data.

"Although we continue to battle through an elongated freight

recession with an oversupply of capacity, I'm optimistic about

our ability to continue improving our execution regardless of

the market environment," CEO Dave Bozeman said.

A rise in shipments during the pandemic saw a surge in new

freight brokers entering the industry but, as overall volumes

drop, the competition to win more freight increases.

This excess capacity in a low volume environment forces

brokers to bid on lower prices for shipments, impacting their

margins and causing freight rates to drop across the industry.

The company's North American surface transportation (NAST)

unit, its biggest segment, which includes truckload and less

than truckload (LTL) transportation brokerage services, posted a

revenue of $3 billion, down 9.2% from $3.30 billion a year

earlier.

The Minnesota-based company posted net income of $92.9

million, or 78 cents per share, for the quarter ended March 31,

compared with $114.9 million, or 96 cents per share, a year

earlier.

Shares of the company rose 13.5% to $81.9 in extended

trading.