News Formal

Walmart Reports Big Earnings Miss as Higher Costs, Supply Chain Eat Into Profits

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Walmart Will Report Earnings Before the Bell. Here's What to Expect

The discounter's bottom line results"were unexpected and reflect the unusual environment," CEO Doug McMillon said in a release Tuesday morning. Inflation in the U.S. is at a nearly four-decade high.

Here's what the discounter reported for the fiscal first quarter ended April 29, according to Refinitiv consensus estimates:Revenue: $141.57 billion reported vs. $138.94 billion expectedbillion, or 74 cents per share, from $2.73 billion, or 97 cents per share, a year ago. Excluding items, the company earned $1.30 per share. That's lower than the $1.48 that analysts were expecting, according to Refinitiv.Wall Street's expectations of $138.94 billion.

Walmart is a much-watched company as investors and economists look for clues about how the American consumer is weathering inflation – and if they are starting to pull back on spending., a broad measure of prices for goods and services, increased 8.3% in April compared with a year ago, according to the Bureau of Labor Statistics.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Earnings roundup: TaskUs, Rackspace, others report resultsEarnings roundup: TaskUs, Rackspace, Six Flags report results. Here’s what you need to know
Source: ExpressNews - 🏆 519. / 51 Read more »

Home Depot is about to report earnings. Here's what to expectShares of the company have fallen 7% over the last year, dragging its market value down to $306 billion. Easy to tell the future when your a part of the big scam.
Source: CNBC - 🏆 12. / 72 Read more »

Stock futures rise ahead of a big week of retail earningsStock futures were higher Sunday evening after a week of steep losses that ended on a high note, and ahead of a big earnings week for retailers. Hail King Mammon! Meditate on his enn: 'Tasa Mammon on ca lirach.' Seek King Mammon for wisdom and financial prosperity.
Source: CNBC - 🏆 12. / 72 Read more »