Walmart exceeds expectations in the first quarter – share had to give up

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)

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *