In after-hours trading, Occidental Petroleum, Zoom Video Communications, and Workday made headlines with their latest earnings reports. While Occidental Petroleum missed earnings expectations, it announced a buyback program and dividend increase. Zoom Video Communications beat earnings expectations but may struggle to maintain revenue growth, while Workday beat revenue and earnings expectations but announced layoffs. Investors will be closely watching these companies in the coming days and weeks. In this article, we will delve deeper into each company’s earnings report and what it means for their future.

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Occidental Petroleum, Ticker OXY

Occidental Petroleum, Ticker OXY, one of Warren Buffet’s favorites, saw its shares fall slightly in after-hours trading following the announcement of its fourth-quarter earnings. The company’s adjusted earnings per share came in at $1.61, below the expected $1.80. However, Occidental announced a $3 billion buyback program and a 38% increase in dividends to return cash to shareholders. The company also repaid $1.1 billion of debt in the fourth quarter. Occidental’s stock is down about 6% this year but soared 117% in 2021, outperforming the S&P 500’s Energy Select Sector, which was up 57%.

Zoom Video Communications, Ticker ZM

Zoom Video Communications, Ticker ZM, reported fourth-quarter adjusted earnings per share of $1.22, above the expected 80 cents. The video conferencing company’s revenue was also higher than expected at $1.12 billion, and its free cash flow of $183.3 million beat Wall Street expectations of $150.1 million. However, Citi analysts, who have a Sell rating on the stock, wrote that they believe the business may struggle to maintain positive year-over-year revenue growth due to a declining online business and international headwinds. In February, Zoom announced it would lay off about 15% of its workforce, or 1,300 employees, and the CEO took a 98% salary cut. Zoom was a pandemic darling in 2020, with users flocking online during lockdowns.

Workday’s, Ticker WDAY

Workday’s, Ticker WDAY, revenue of $1.65 billion, up 20% year-over-year, came in above Wall Street estimates of $1.63 billion. The enterprise management cloud company’s adjusted earnings per share of 99 cents also beat expectations of 90 cents. However, earlier this month, Workday announced it would lay off about 3% of its workforce, or about 525 employees. Workday’s stock is up 10% year-to-date amid an overall tech rally earlier this year, but it lost 38% of its value in 2022.

In summary, Occidental Petroleum, Zoom Video Communications, and Workday all made headlines in after-hours trading. While Occidental Petroleum missed earnings expectations, it announced a buyback program and dividend increase. Zoom Video Communications beat earnings expectations but may struggle to maintain revenue growth, while Workday beat revenue and earnings expectations but announced layoffs. Investors will be watching these companies closely in the coming days and weeks.