Mixed results for Walmart

Mixed results for Walmart

One of the largest retailers in the world, Walmart, revealed its fourth quarter earnings

The company saw its EPS at $1.39 on revenues of $152.08 billion. According to Zacks, the consensus was of $1.51 earnings per share and revenues of $148.3 billion. The higher-than-expected revenue was due to the COVID-19 pandemic, as people bought more groceries and cleanings products.

In the past quarter, in the US, e-commerce sales went up 69% - the slowest growth reported since the pandemic started.

For the future, Walmart expects its EPS and revenues to fall in fiscal 2022. The company also announced a $20 billion buyback program and raised its quarterly dividend to $2.20 from $2.16 per share.

Moreover, Walmart revealed that it would raise wages for workers in digital and stocking positions to $13$19/hour.

Following its fourth quarter results, Walmart stock price dropped 6%.

Sources: investors.com, cnbc.com

The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.