Walmart reports low profit amid higher costs, rising inflation
Walmart Inc (NYSE: WMT) reported lower-than-expected earnings for the first quarter on Tuesday and also cut its full-year profit outlook
By Shubhangi Mathur
Published - May 17, 2022, 07:26 PM ET
Last Updated - Feb 28, 2024, 07:33 AM EST
• Shares of the company plunged nearly 10% in morning trading
Walmart Inc (NYSE: WMT) reported lower-than-expected earnings for the first quarter on Tuesday and also cut its full-year profit outlook.
Shares of the company plunged nearly 10% in morning trading.
The retailer missed earnings estimates for the first time in five quarters as it posted earnings of $1.30 per share in the first quarter, against expectations of $1.48 per share.
