Walmart Shares Fall After Mixed Earnings and Roku Shares Fall Before Earnings Beat 📉
Walmart Shares Fall After Mixed Earnings and Roku Shares Fall Before Earnings Beat
On Thursday, shares of American retailer Walmart plunged, closing down 6.48%. Shares of America’s largest retailer fell after it reported mixed results for its fourth-quarter earnings.
The company reported adjusted EPS of $1.39 vs. $1.51 as expected by analysts. Revenue was $152 billion, up from $141.6 billion and beat analysts’ expectations of $148.51 billion. E-commerce sales grew by 69%. U.S. comp sales grew by 8.6% vs 5.6% as expected by analysts. The company expects EPS and comp sales in 2022 to fall slightly.
Walmart also announced it would raise wages for about 425,000 hourly employees, raising the average wage for associates to $15.
Shares of Walmart are down more than 8% in the past three months.
On Thursday, shares of streaming company Roku fell slightly, closing down 0.87%.
Shares of the company fell before it reported strong earnings late Thursday.
The company reported revenue of $649.9 million, up from $411 million and beat analysts’ expectations of $619 million. Roku also posted a surprising profit of $0.49 per share vs a $0.05 per share loss as expected by investors.
Roku guided analysts higher for the first quarter, expecting revenue of $478 million to $493 million vs analysts’ expectations of $463 million.
The company said “advertising business proved resilient” as its fourth-quarter monetized video ad impressions more than doubled year-over-year.
Shares of Roku are up over 70% in the past three months.
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