The Strategist

Walmart's net profit falls in Q1

05/18/2022 - 09:49

Walmart's consolidated net profit fell 24.8 percent year over year to $2.054 billion in the first quarter of fiscal year 2022-2023 (ending 30 April), according to a press statement.

Daniel Case
Daniel Case
Walmart reported $0.75 diluted earnings per share, down from $0.97 a year ago.

In the reporting period, Walmart's revenue increased 2.3 percent year over year to $140.288 billion. Analysts expected $138.8 billion in revenue.

"It was a fantastic quarter... The results were unexpected, because they represent the United States' peculiar inflation position. Food and gasoline, in particular, put a strain on operational margins and costs," the company's CEO Doug McMillon was quoted in the release as stating.

In 2022-2023, the company now forecasts comparable sales growth of 3-5 percent, up from its earlier prediction of 3 percent.



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