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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Walmart Inc | NYSE:WMT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 64.18 | 333 | 09:36:22 |
From May 2019 to May 2024
By Bowdeya Tweh
Walmart Inc. is cutting its earnings targets for the year as part of its purchase of a majority stake in Flipkart Group.
The world's largest retailer said it expects to earn between $2.65 and $2.80 a share in the year ending Jan. 31, or between $4.65 and $4.80 a share on an adjusted basis. The company had expected earnings between $2.90 and $3.05 a share, or $4.90 to $5.05, adjusted.
The company said its prior guidance didn't include the impact from the Flipkart deal. Walmart in May agreed to take control of Flipkart, India's largest e-commerce company, for $16 billion.
Walmart maintained its forecast for sales this year. In the second quarter, quarterly sales for Walmart accelerated at the fastest rate in more than a decade.
Write to Bowdeya Tweh at Bowdeya.Tweh@wsj.com
(END) Dow Jones Newswires
October 16, 2018 07:33 ET (11:33 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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