(WMT) Walmart Earnings Report Fall Short Of Market Expectations

The Forex Market Is Under Strong Pressure From Geopolitical Events And Statistics

Summary:

  • Earnings report caused WMT shares to fall sharply.
  • Rising prices causing unexpected operating costs.

Walmart earnings leaving investors bearish

On Tuesday Walmart released their first quarter earnings report, which fell short of market expectations. In addition the retail giant cut its full year profit forecast as Walmart feels the consequences of rising costs.

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Walmarts EPS fell short of analyst expectations, and additionally indicated that they expect to see a 1% drop in revenue for the 2023 financial year. CEO Doug McMilon indicated that although the results were unexpected, they are a reflection of the current market environment and the rising inflation, especially in food and fuel, were main drivers of unexpected operating costs.

Pre-Market trading saw Walmarts shares fall by 6.75%.

(WMT)Walmart Earnings Report Fall Short Of Market Expectations - 1

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Walmart Share Price Chart

Sources: thestreet.com, finance.yahoo.com

The Forex Market Is Under Strong Pressure From Geopolitical Events And Statistics

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.