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

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.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

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

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.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

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.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »