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Walmart Q1 Profit Tops Estimates; Withdraws FY21 Outlook - Quick Facts

Walmart (WMT) reported first quarter adjusted earnings per share of $1.18, up 4.4% from prior year. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $1.17, for the quarter. Analysts' estimates typically exclude special items.

First quarter consolidated operating income was $5.2 billion, an increase of 5.6% and included lower losses in Walmart U.S. eCommerce. Excluding currency, operating income would have increased 6.6%. The company incurred incremental costs related to COVID-19 of nearly $900 million, which negatively affected operating income.

First quarter total revenue was $134.6 billion, an increase of 8.6%. Excluding currency, total revenue would have increased 9.7% to $135.9 billion. Analysts expected revenue of $130.31 billion for the quarter.

Walmart U.S. comp sales increased 10.0%, while Walmart U.S. eCommerce sales grew 74%. Sam's Club comp sales increased 12.0%, led by in-club transactions, and eCommerce sales grew 40%.

Due to unprecedented variability in the macro environment brought on by COVID-19, the company has decided to withdraw its financial guidance for fiscal 2021.

Shares of Walmart were up 4% in pre-market trade on Tuesday.

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