Shares of FedEx  (FDX) – Get Report jumped after hours on Tuesday after the package-delivery service reported fiscal-first-quarter results that were ahead of analyst expectations. 

For the quarter ended Aug. 31 the Memphis company reported net income of $4.72 a share, up 66% from $2.84 a share in the year-earlier quarter.

Adjusted net income climbed to $4.87 a share from $3.05.

First-quarter revenue of $19.3 billion was 14% up from $17 billion a year earlier. 

Wall Street analysts surveyed by FactSet were expecting GAAP earnings of $2.54 a share, or an adjusted $2.70, on revenue of $17.55 billion. 

“Our earnings growth underscores the importance of our business initiatives and investments over the last several years, and, in many ways, the world has accelerated to meet our strategies,” Chief Executive Frederick W. Smith said in a statement.

The company said the results stemmed from volume growth in FedEx International

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Walmart Inc. gave some of the credit for its stellar fiscal second-quarter earnings to government financial aid that landed in shoppers’ pockets during the coronavirus pandemic, but the lack of progress in Congress on another economic package is forcing analysts to forecast a pullback in coming months in consumer demand.

Walmart
WMT,
-1.63%

reported adjusted earnings per share of $1.56 on Tuesday, far exceeding the FactSet consensus forecast for $1.25. Revenue of $137.74 billion was up from $130.38 billion last year and ahead of the FactSet consensus for $135.57 billion. U.S. same-store sales rose 9.3% with general merchandise and food leading the way.

“[M]y sense is that the… order of tailwinds that impacted the business were: one, stimulus; two, eating at home; three, being at home and all the things that you wanted to do to have the indoors and outdoors be more pleasurable,” Doug McMillon, Walmart’s chief executive, said

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