Amid a spate of disappointing earnings reports from departmental stores and traditional brick-and-mortar operators, Wal-Mart (WMT – Analyst Report) spread an air of optimism with solid Q1 results. This is especially true as the world’s largest retailer edged past our earnings and revenue estimates, and provided an upbeat outlook for the ongoing second quarter (read: Retailers Sink: Alarm Bell Ringing for ETFs as Q1 Unfolds?).
Earnings per share came in at 98 cents, beating the Zacks Consensus Estimate by 10 cents but declining from the year-ago earnings of $1.03. Revenues inched up 0.9% year over year to $115.9 billion and surpassed our estimate of $112.7 billion.
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