Walmart Financials “Solid” But Not Quite What Investors Expected

Walmart reported “solid first quarter” financial results, according to CEO Doug McMillon, including earnings per share of $1.03 on $115 billion in revenue. Consolidated operating income slid 8.3 percent because of currency fluctuations, and spending on employee wages and training, and on e-commerce. However, e-commerce sales increased globally by about 17 percent. The earnings and revenue figures were slightly lower than what Wall Street was expecting, and were lower than results posted a year ago in the same quarter. The company expects to increase its EPS to $1.06 to $1.18 in the second quarter, and to increase revenues by one percent.