Walmart is a test of broader tariff harm

Walmart on May 16 reported that its revenue for the quarter ending April 30 increased 1% year-over-year to $124 billion. Earnings for the period were $3.8 billion, or $1.33 per diluted share, compared with $2.1 billion, or 72 cents per share, for the same quarter last year.

Adjusted earnings were $1.13 per share. Analysts on average expected first-quarter revenue of $125 billion and adjusted earnings of $1.02 per share, according to I/B/E/S data from Refinitiv. Sales at U.S. Walmart stores open at least a year increased 3.4% in the first quarter from a year earlier. Online sales increased 37% compared with the previous quarter’s rise of 43%.

U.S. President Donald Trump raised tariffs to 25% from 10% on $200 billion of Chinese goods on May 10.

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