Walmart (WMT) Issues Lower Earnings Forecast Amid High Gas Prices
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowWalmart (WMT) reported fiscal first-quarter results, highlighting adjusted earnings per share expected to fall between $2.75 and $2.85, below forecasts of $2.91. The retailer anticipates net sales to rise by 3.5% to 4.5% for the year and 4% to 5% for the current quarter. In Q1, Walmart's revenue increased by 7%, reaching $177.75 billion, outperforming expectations of $174.98 billion. Despite this growth, shares dropped approximately 2% in premarket trading as investors reacted to the lower outlook and concerns about consumer spending.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Walmart Inc. (WMT)
Walmart is the largest retailer in the world by revenue, running hypermarkets, discount stores, and a fast-growing e-commerce and advertising business.
The Consumer Staples sector covers food, beverage and household-goods companies that tend to hold up in any economy.
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