Wal-Mart Stores Inc. (NYSE:WMT) reports 1Q18 Profit Down 28%; Misses Street View

Wal-Mart Stores Inc. (NYSE:WMT) reported net income for the first quarter of $ 2.13 billion or $ 0.72 per share, compared to income of $ 3.04 billion or $ 1.00 per share for the year-ago quarter.

The topline results for the first quarter rose 4% to $ 122.69 billion from $ 117.54 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected Wal-Mart Stores Inc. to report income of $ 1.12 per share on revenue of $ 120.47 billion for the first quarter.

We delivered a solid first quarter, and we’re encouraged by the continued momentum across the business. We’re transforming to better serve customers. We are changing from within to be faster and more digital, while shaping our portfolio of businesses for the future. Our strong cash flow and balance sheet provide flexibility to do so, said Doug McMillon, President and CEO of Walmart.

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