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.

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