The US retailer Walmart suffered a profit slump in the first quarter due to a one-off effect.
However, the operating result remained stable and Walmart increased its sales more than expected. The stock was in the Thursday trading with discounts and finally went down 2.01 percent at $ 84.40 from the trade.
Net income for the quarter as at the end of April was down 30 percent year-over-year to $ 2.13 billion. Due to a change in accounting, the Group had to report an investment in the online retailer JD.com as unrealized loss. On an adjusted basis, earnings per share increased 14 percent to $ 1.14. Analysts had expected by consensus with 2 cents less.
The operating result of $ 5.15 billion remained almost at the previous year’s level. In contrast, sales increased by 4.4 percent to 122.7 billion dollars. Here, the analysts had predicted 120.5 billion. Like-for-like sales in the US increased by 2.1 percent.
The recently announced acquisition of a $ 16 billion majority interest in the Indian startup Flipkart will reduce earnings per share for the current fiscal year 2018/19 by 25 to 30 cents should the deal be completed by the end of the second quarter. The company will publish an updated outlook with the second quarterly report.
FRANKFURT (Dow Jones)
Continue reading “Walmart exceeds expectations in the first quarter – share had to give up”
For a long time he was shying away from tech stocks, now the star investor sends Apple’s paper to the highest level of all time with his millionaire purchase. This puts a magical brand within reach.
Shares of Apple have topped their good run of recent days with the jump to a record high of 183.65 US dollars on Friday. After the papers had already benefited on Wednesday from surprisingly good quarterly numbers, investors now cheered the increase in shares by the famous big investor Warren Buffett. Most recently, the shares went up by a good 3 percent to $ 182.8701.
Buffett’s investment company Berkshire Hathaway had bought 75 million more shares of the iPhone manufacturer in the first quarter, as revealed by the star investor CNBC. Buffett, who has long doubted tech values, has become a big fan of Apple in recent years , by the end of 2017, the California smartphone maker had replaced the US bank Wells Fargo as a top position in its portfolio.
Continue reading “Buffett purchase sends Apple share to record high”