BREAKING NEWS Visitors will be allowed at PeaceHealth hospitals starting Monday Full Story
STREAMING NOW: Watch Now

Walmart trims profit outlook after Flipkart purchase

Walmart warned investors Tuesday that its acquisition of Flipkart will hurt its quarterly profit.Walm...

Posted: Oct 16, 2018 10:10 AM
Updated: Oct 16, 2018 10:10 AM

Walmart warned investors Tuesday that its acquisition of Flipkart will hurt its quarterly profit.

Walmart agreed to pay $16 billion for a 77% stake in the company earlier this year. Flipkart is India's top online retailer and gives Walmart access to a market it has been trying to crack for years.

Business, economy and trade

Companies

Company activities and management

Company earnings

Financial performance and reports

Financial results

Flipkart

Walmart

Walmart said the purchase will cut earnings by 25 cents a share, or about $740 million, in the current quarter.

The company also said sales at US stores could be a bit softer than the 3% it estimated earlier this year. Walmart is now predicting sales to grow between 2.5% to 3% at stores open at least a year.

The guidance didn't seem to bother investors. Shares of Walmart (WMT) were stable in pre-market trading.

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 157079

Reported Deaths: 2296
CountyCasesDeaths
Multnomah32006550
Washington21377217
Marion18625287
Clackamas13456191
Lane10373131
Jackson8569118
Umatilla770982
Deschutes602765
Yamhill380069
Linn361357
Malheur336358
Polk308845
Klamath281655
Douglas259255
Josephine240056
Benton236618
Jefferson197630
Coos159121
Union130519
Columbia127721
Wasco122226
Lincoln113920
Hood River107129
Morrow105014
Crook78118
Clatsop7796
Baker6769
Curry4387
Tillamook4302
Lake3836
Harney2786
Grant2301
Wallowa1445
Gilliam541
Sherman530
Wheeler221
Unassigned00
Eugene
Partly Cloudy
49° wxIcon
Hi: 52° Lo: 39°
Feels Like: 49°
Corvallis
Partly Cloudy
47° wxIcon
Hi: 48° Lo: 36°
Feels Like: 47°
Roseburg
Partly Cloudy
51° wxIcon
Hi: 53° Lo: 39°
Feels Like: 51°
North Bend
Partly Cloudy
48° wxIcon
Hi: 50° Lo: 38°
Feels Like: 48°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events