Wall Street

Walmart Misses Profit Expectations, Depicting Consumers’ Pressure

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ValueWalk

Quarterly earnings of Walmart Inc (NYSE:WMT) fell short of Wall Street estimates as the giant retailer’s earnings per share topped $1.30 against expectations of $1.48. For investors, the results reflect how consumers are dealing with rising inflation and soaring fuel costs. Walmart’s Earnings ReportWalmart’s net income dropped to $2.05 billion from $2.73 billion during the first quarter, meaning it fell from 97 cents per share to 74 cents per share. Q1 2022 hedge fund letters, conferences and more In a release Tuesday morning, CEO Doug McMillon said the results “were unexpected and reflect the…

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