2 Stocks Move in After-Hours Trading

FedEx and Oracle report earnings results

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Jun 19, 2018
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Shares of FedEx Corp. (FDX, Financial) edged higher in after-hours trading on Tuesday after reporting fourth-quarter 2018 earnings per share of $5.91 on $17.3 billion in revenue. The company beat earnings estimates by 23 cents and revenue expectations by $60 million.

“It was a year of opportunities and challenges (anticipated and unexpected) and FedEx emerged more competitive than ever," Chairman and CEO Frederick W. Smith said. "In all my years at FedEx, I have never been so optimistic and so sure of our strategy and our ability to deliver an exciting future.”

Looking ahead to fiscal 2019, the company expects revenue growth of approximately 9%, an operating margin of approximately 7.9% and adjusted earnings between $17 and $17.60 per diluted share.

Oracle Corp. (ORCL, Financial) fell almost 5% after reporting fourth-quarter 2018 earnings per share of 99 cents on revenue of $11.25 billion. The company beat earnings estimates by 5 cents and revenue expectations by $60 million.

Fourth-quarter cloud services and license support revenues grew 8% to $6.8 billion. In contrast, cloud license and on-premise license revenues declined 5% to $2.5 billion.

For full fiscal 2018, total revenues inched up 6% to $39.8 billion. Fiscal 2018 cloud services and license support revenues climbed 10% to $26.3 billion, while cloud license and on-premise license revenues slipped 4% to $6.2 billion.

Moreover, the board of directors declared a quarterly cash dividend of 19 cents per share.

Disclosure: The author holds no positions in any stocks mentioned.