Walmart is sliding despite posting an earnings beat
(REUTERS/Jim Young)
Walmart released its second-quarter earnings report before the bell on Thursday, and the results were mostly positive, but shares are down about 2.5% ahead of the opening bell.
The company announced comparable sales rose 1.8% compared to the same time last year, and merchandise volume from its online business soared by 67% compared to last year.
Adjusted earnings came in at $1.08 per share while revenue totaled $123.36 billion, both were ahead of estimates.
The only mark on the report seems to be the dip in gross margins, which fell 11 basis points to 25%.
Walmart is up 14.95% this year, including Thursday morning's declines.
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(Market Insider)
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