Walmart Stock Dips 1% Amid Earnings Beat

Walmart's (NASDAQ:WMT) stock price took a 1% hit during mid-day trading on Tuesday, with shares trading as low as $104.40 and last at $105.38. Approximately 26.5 million shares were exchanged, a 3% increase from the average daily volume of 25.7 million.

The retailer's earnings report for the quarter showed adjusted earnings per share (EPS) of $0.81 and revenue of $187.94 billion, both exceeding analyst expectations.

Walmart also raised its full-year revenue guidance to a range of 4-5% growth from the previous estimate of 3.5-4.5%. The company's AI shopping assistant, Sparky, has reportedly increased customer spending by around 40% in early tests, and Walmart is exploring partnerships with OpenAI and ChatGPT.