Walmart Stock Slumps Despite Strong Earnings

Walmart Inc (WMT) stock fell on Thursday morning despite beating top- and bottom-line estimates for its second financial quarter.

The company reported $187.9 billion in revenue, up 5.9% year-over-year, and earnings per share of $0.81, a 19.1% increase from the same period last year.

However, U.S. same-store sales came in at only 2.6%, below the consensus forecast of 3.5%, with weakness in pharmacy and healthcare department attributed to government drug-price regulations.

Mizuho analyst David Bellinger called this comparable store sales weakness 'one of the biggest misses in years.'