Walmart Inc. (NYSE: WMT) reported its first-quarter 2023 earnings results today.
Total revenue rose 2.4% year-over-year to $141.6 billion, beating market expectations. Revenue growth was 2.6% in constant currency.
Consolidated net income attributable to Walmart declined nearly 25% to $2 billion, or $0.74 per share. Adjusted EPS amounted to $1.30, missing estimates.
For the second quarter of 2023, consolidated net sales are expected to increase over 5% and EPS is expected to be flat to up slightly.
Shares of Walmart fell 7% during premarket hours on Tuesday following the report.