Walmart Inc. (NYSE:WMT) stock is trading lower on Friday. The retail giant issued a cautious forward outlook that eclipsed its strong first-quarter earnings beat reported on Thursday.
Earnings Beat Expectations, But Guidance Disappoints
Adjusted earnings came in at 66 cents per share, matching analyst estimates. Revenue increased 7.3% year over year, or 5.9% in constant currency, to $177.8 billion, ahead of consensus estimates of $175.0 billion.
Walmart forecast second-quarter adjusted earnings between 72 cents and 74 cents per share, trailing analyst expectations of 75 cents. Additionally, its projected quarterly revenue of $182.8 billion to $184.6 billion missed the $186.4 billion Wall Street consensus.
During the call, the Walmart CFO stated that "if the current elevated cost environment persists, the company expects somewhat higher retail price inflation in the second quarter and the second half of the year."
