The firm reported an adjusted $1.24 per share and $13.46 billion in revenue, while analysts polled by Refinitiv forecasted $1.15 and $15.08 billion.Consumer spending was weaker than expected in June despite a seemingly brighter inflation picture, theAdvance retail sales showed just a 0.2% increase for the month over May, less than the 0.5% increase that economists surveyed by Dow Jones had been expecting. Excluding autos, the increase also was 0.2%, below the 0.3% estimate.
Falling prices saw gasoline station sales drop 1.4%, offsetting a 2% gain from miscellaneous stores and a 1.9% increase on online purchases. The numbers are not adjusted for inflation; the consumer price index rose 0.2% for the month, indicating that real sales were about flat.
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Source: CNBC - 🏆 12. / 72 Read more »