Software giant Oracle Corporation (NYSE: ORCL) reported a 15% growth in first-quarter earnings, aided by a modest increase in revenues. The market responded positively to the stronger-than-expected results and the company’s stock gained on Thursday evening.
At $9.37 billion, revenues were up 2% year-over-year in the first three months of fiscal 2021. The top-line also surpassed the market’s projection.
Adjusted earnings moved up to $0.93 per share from $0.81 per share in the first quarter of 2020 and topped the Street view. Net income, including one-off items, was $2.25 billion or $0.72 per share, compared to $2.14 billion or $0.63 per share last year.
Oracle’s shares climbed to an all-time high earlier this month, maintaining the uptrend that started after the March-selloff. The stock closed Thursday’s trading lower but gained during the extended session.
Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for
Warehouse behemoth Costco Wholesale Corporation (NASDAQ: COST) has reported a 15% increase in fourth-quarter 2022 revenues, which translated into double-digit growth in net income. Fourth-quarter revenues increased sharply to $72.09 billion.
Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted