One of the largest American multinational retail corporations reported Q1 figures that beat Wall Street’s estimates
For the 2022 fiscal first quarter, Walmart posted an adjusted EPS of $1.69, topping the $1.21 consensus. At the same time, its revenue hit $138.31 billion versus the $131.97 billion expected. Compared to last year’s figures, revenue went up almost 3%.
Walmart’s same-store sales grew 6% in the US, significantly higher than the 0.9% initially touted. Moreover, e-commerce sales rose 37%.
However, for its international stores, the net sales were $27.3 billion, 8.3% lower than what it reported in fiscal 2021. The drop was caused by Walmart divesting part of its global business.
For the future, Walmart expects the “pent-up demand” (the demand for a service or product to be unusually strong) to continue. Walmart’s US operating income and the EPS are likely to increase in the high single-digits.
Following the news, Walmart stock price went up more than 4%.
Source: cnbc.com
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 and forecasts are not reliable indicators of future results.
