BENTONVILLE, Ark. (AP) — Walmart Inc. (WMT) on Thursday reported fiscal first-quarter profit of $1.67 billion.
On a per-share basis, the Bentonville, Arkansas-based company said it had profit of 62 cents. Earnings, adjusted for non-recurring costs, came to $1.47 per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The world’s largest retailer posted revenue of $152.3 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $149.8 billion.
For the current quarter ending in July, Walmart expects its per-share earnings to range from $1.63 to $1.68.
The company expects full-year earnings in the range of $6.10 to $6.20 per share.