Memphis-based FedEx Corp. posted solid growth during its fiscal fourth quarter, beating Wall Street estimates.

The shipping giant reported earnings of $4.15 per diluted share for the quarter ended May 31, and net income of just over $1.13 billion, which is up from $1.02 billion, or $3.75 a share, a year ago.

“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,” FedEx Corp. chairman and chief executive officer Fred Smith said during an earnings call with industry analysts Tuesday, June 19.

Meanwhile, adjusted earnings of $5.91 per share beat analysts' expectations of $5.72 per share, according to a survey by Zacks Investment Research. This marks the third consecutive quarter FedEx has outperformed expectations, according to the financial research company.

Revenues for the company rose to $17.3 billion from $15.7 billion a year ago, with an operating margin of 7.4 percent. Analysts had forecast revenue of $17.2 billion. 

FedEx also reported full-year net income of $4.57 billion and diluted EPS of $16.79, which are up, respectively, from $3 billion and $11.07 for the 2016 fiscal year.

News of the fourth-quarter results caused a slight bump in FedEx’s stock in after-hours trading. FedEx closed the day at $258.39 per share, down about 2 percent from the day’s opening bell.

Fiscal 2017 revenues rose to $65.5 billion, up from $60.3 billion a year ago, and boasted a full-year operating margin of 7.4 percent, which is down a full percentage point year-over-year.

According to FedEx, quarterly net results included a net tax benefit of $255 million, or $0.94 per diluted share, from corporate structuring transactions stemming from the integration of FedEx Express and TNT Express. The company also reported a $133 million, or $0.49 per diluted share, tax benefit from foreign tax credits associated with its offshore operations.