Walmart Inc. announced its first-quarter results Thursday, with strong growth in revenue, including eCommerce, which grew 26% globally.
Walmart U.S. comp sales grew 4.1%. while the company’s revenue reached $177.8 billion, up 7.3%.
Its global advertising business jumped 37%. Sam’s Club’s same-store sales grew 3.9%. With fuel sales factored in, sales surged 5.9%.
Although Walmart reported some gains, it also issued a more pessimistic financial forecast than expected. It expects adjusted earnings per share to be between 72 cents and 74 cents, falling short of the 75-cent consensus. Walmart anticipates net sales will increase by 4% to 5% for Q2.
John Furner, President and CEO, Walmart, told investors, “Our results reflect our continued focus on delivering across the enterprise — better shopping experiences, a broader assortment, and faster delivery. Our teams are adopting innovative technologies, driving productivity through automation, and growing higher- margin commerce solutions. It’s a disciplined approach that’s helping us grow the business and strengthen returns.”
This was Walmart’s second earnings report under new CEO John Furner.
Walmart shares slid 7% following the announcement.
By CEO NA Editorial Staff
