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
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