Walmart lifts full-year sales and profit forecast, shares rally
The company now expects adjusted core profit between $250 million and $270 million, compared to its earlier forecast of $180 million to $200 million.
raised its on Wednesday, underscoring gains from recent and growth in its and food delivery businesses.A significant at Grab, which included reducing 1,000 jobs and slashing some in 2023, is helping the company push ahead in its goal to deliver this year.
The company now expects between $250 million and $270 million, compared to its earlier forecast of $180 million to $200 million.
Grab kept its full-year range unchanged at $2.70 billion to $2.75 billion.
For the quarter ended March 31, the company's revenue rose 24% to $653 million, higher than analysts' estimates of $642.4 million, per LSEG data.
Sales from the - its largest - grew 19%, and the ride-share business 27%, both topping analysts' consensus estimates from Visible Alpha.
Source: Stocks-Markets-Economic Times
