Investing.com - Dow component Wal-Mart Stores (NYSE:WMT) reported weaker-than-expected first quarter earnings and revenue figures ahead of Tuesday's opening bell, sending its shares lower in pre-market trade.
U.S. retail giant Wal-Mart said diluted earnings per share was $1.03 in the first quarter, below expectations for diluted earnings of $1.05 per share. Currency exchange rate fluctuations negatively impacted earnings per share by approximately $0.03 cents.
The company’s first quarter revenue totaled $114.8 billion, missing forecasts for revenue of $116.2 billion.
Walmart U.S. comp sales increased 1.1%, indicating positive traffic for the second consecutive quarter.
The company forecasts second quarter earnings per share in a range between $1.06 and $1.18, compared to expectations for $1.17 per share.
Following the release of the report, Wal-Mart shares declined 2.19%, or $1.75, in pre-market trade to hit $78.17, compared to Monday's closing price of $79.92.
Meanwhile, the outlook for U.S. equity markets was mildly higher. The Dow futures pointed to a gain of 0.2% at the open, the S&P 500 futures indicated a rise of 0.2%, while the Nasdaq 100 futures increased 0.3%.
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Wal-Mart drops 2.2% in pre-market trade after earnings miss
Published 05/19/2015, 07:14 AM
Wal-Mart drops 2.2% in pre-market trade after earnings miss
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