Retail giant Walmart, which is planning to invest in Flipkart, an India-based e-commerce company, reported its fourth quarter 2018 results on Tuesday.
Net income attributable to Walmart plunged 42% year-over-year to $2.18 billion, hurt by restructuring and impairment charges. On a per share basis, profit tanked 40% to $0.73, while adjusted EPS grew 2.3% to $1.33. Revenue grew 4.1% to $136.3 billion.
For the fiscal year 2019, the company targets net sales growth to range between 1.5% and 2% in constant currency and earnings per share to range between $4.75 and $5.00. Walmart expects cash benefit of around $2 billion in FY19 from the recently introduced Republican tax reform.
