Walmart disappointed the equity markets Thursday with a 12-cent per share earnings miss in the fourth quarter, despite record revenue and strong same-store sales. Fourth-quarter earnings on an adjusted basis were $1.39 per share, lower than the $1.51 consensus estimate.
The global retailer posted a net income loss of $2.091 billion in the fourth quarter primarily because of accounting charges related to the sale of assets and operations in Argentina, Japan, and the United Kingdom. The company posted net income of $4.141 billion in the fiscal fourth quarter of 2019.