Walmart Inc. (NYSE:WMT) stock traded lower Thursday after the retail giant reported first-quarter results that topped revenue estimates but reaffirmed full-year guidance below Wall Street expectations.
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.
Gross margin expanded by 6 basis points, driven primarily by strength in the U.S. business, while adjusted operating income rose 5.7% from a year earlier.
Operating cash flow totaled $4.7 billion during the quarter, while free cash flow was negative $1.9 billion.
Walmart U.S. E-Commerce And Marketplace Growth Accelerate
At Walmart U.S., revenue increased 4.5% to $117.2 billion as e-commerce sales climbed 26%. Growth was fueled by a 45% …