Walmart earns less than expected in the 1st quarter

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Walmart posted net income of $2.05 billion in its first fiscal quarter (ending April 30), 24.8% lower than the $2.73 billion gain in the same period a year earlier, second balance sheet published this Tuesday (17).

In the same comparison, the US retail giant’s earnings per share dropped from $0.97 to $0.74.

Adjusted, earnings per share were $1.30, well below the forecast of analysts polled by FactSet of $1.48.

Walmart’s revenue grew 2.4% year-on-year in the quarter to $141.6 billion, beating FactSet’s consensus of $138.8 billion.

For fiscal 2023, Walmart lowered its forecast for earnings per share from an increase of around 5% to a decline of about 1%.

At 8:25 am (GMT), Walmart’s share had fallen 7.2% in pre-market businesses in New York.

Source: CNN Brasil

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