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Investing.com — Walmart Inc (NYSE:WMT) dropped 6% on Thursday after disappointing earnings.
The retailer lost $2.09 billion, or 74 cents a share, compared with a profit of $4.14 billion, or $1.45 a share a year ago. With adjustments, Walmart earned $1.39 per share, which fell short of expectations of $1.50 a share. Revenue rose 7.3%, to $152.1 billion.
The company did say it would raise pay for workers to an average above $15 an hour, a boost for 425,000 employees.
The same-store sales rose 8.6% in the U.S. The company said it expects U.S. same-store sales, excluding gas, to rise in the low-single digits.
Shares of Walmart are up 16% over the last year.
