Walmart Q1 profits fall 32% as pandemic sales growth slows

Walmart reported a drop in first-quarter profits Tuesday with pandemic-related sales growth moderating somewhat, but shares rallied as the results still topped expectations.

Walmart reported a drop in first-quarter profits Tuesday with pandemic-related sales growth moderating somewhat, but shares rallied as the results still topped expectations.

Profits in the quarter ending April 30 came in at $2.7 billion, down 32 percent from the year-ago period. Revenues were $138.3 billion, up three percent.

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Originally published as Walmart Q1 profits fall 32% as pandemic sales growth slows