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 …