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Walmart slides from $100M IPO to $200M profit at second-quarter earnings release

Walmart slides from $100M IPO to $200M profit at second-quarter earnings release

Walmart stock fell by $10.10 to close at $100.37 on Tuesday, after the company posted a second-straight quarterly loss.

The company reported that it had a net income of $7.6 million, but that was less than Wall Street expectations for a $7 million loss.

Analysts had expected $7-million profit.

The stock is down more than 20% since its debut on Oct. 26, but is still up about 7% over the past year.

The shares were up 7.6% in premarket trading Tuesday, before the market closed.

Walmart has seen a steady stream of bad news in recent weeks, including the firing of its former CEO, Chris Ilitch, and the resignation of its chairman, Jeffrey Immelt.

But investors have largely welcomed the company’s second-half performance.

“We see Walmart as having more cash flow now than it has in the past, which is nice,” said David Saperstein, an analyst at Wells Fargo Securities.

“And it’s more likely that there will be more retail spending.”

Walmart’s stock has soared in the wake of Ilitch’s departure.

It rose by about 4% in the days before the company reported its second-week profit.

It is also up nearly 5% this year and 7% since the start of 2018.

Last year, the stock gained more than 40% after Ilitch resigned.

“The market has been looking for a big turnaround,” Saperbaum said.

“There’s no doubt about it.”

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