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Walmart Lifts Outlook, But Profit Miss Drags Shares Lower
Ahead of the Jackson Hole central bank summit in Wyoming, beginning later today through Saturday, investors are parsing Walmart's earnings.
The world's largest retailer delivered stronger-than-expected revenue last quarter and raised its full-year outlook. This is a reassuring sign that consumers remain resilient despite inflation, tariffs, and elevated interest rates. However, the real focus is not the improved outlook, but the profit miss relative to expectations.
For the quarter ending July 31, Walmart posted a profit of $7.02 billion, or about 88 cents a share, versus $4.5 billion, or 56 cents a share, for the same quarter one year ago. Total revenue for the quarter rose 4.8% to $177.4 billion, topping the FactSet estimate of $175.9 billion.