Walmart (NYSE:WMT) earnings for the first quarter of fiscal year 2021 have WMT stock ticking higher on Tuesday. This comes after reported revenue of $134.62 billion was above Wall Street’s estimate of $130.31 billion. Also, the company’s adjusted earnings per share (EPS) of $1.18 just beat analysts’ expectations of $1.17 for the quarter.
Additionally, the company reported GAAP losses per share of $1.40 for the quarter.
Here is what else is worth mentioning from the most recent Walmart earnings report.
- Per-share earnings were a 4.4% more than $1.13 during Q1 2020.
- Revenue for the quarter comes in 8.6% higher compared to $123.93 billion during the same time last year.
- Operating income of $5.22 billion is 5.6% better year-over-year than $4.95 billion.
- The Walmart earnings report also includes a net income of $4.07 billion.
- That’s 4.3% higher than $3.91 billion from the first quarter of 2020.
Doug McMillon, president and CEO of Walmart, said this about the WMT stock earnings:
“More than ever, the news this quarter is our amazing associates. They are rising to the challenge to serve our customers and our communities. I’m proud of how they’re adapting and performing. Our omnichannel strategy, enabling customers to shop in seamless, flexible ways, is built for serving the needs of customers during this crisis and in the future.”
The company does not include its fiscal 2021 guidance due to the effects of the novel coronavirus pandemic. That said, we know what Wall Street is expecting. Analysts’ estimates call for EPS of $5.07 on revenue of $542.63 billion.
WMT stock was up just under 1% on Tuesday.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.
