Walmart posted its Q1 earnings that missed analysts’ expectations. While its growth is strong, inflation proved to be a headwind to bottom line.
The retail giant’s Q1 earnings came in at $1.30, below the Street expectations of $1.48.
Total revenue rose to $141.57 billion from $138.31 billion a year earlier, above analysts’ estimates of $138.94 billion. Net sales in the quarter rose +2.3% (+2.6% in constant currency) from the year-ago quarter to $140.29 billion.
The company mentioned that unexpectedly high fuel costs and higher amounts of inventory and have dampened its profit margins.