Walmart reported mixed second-quarter results, with profits falling 9.4 percent to $6.4 billion while revenues rose 5.9 percent to $187.9 billion. US comparable sales grew 2.6 percent, down from 4.1 percent in the first quarter, as consumers faced gasoline prices above $4 a gallon due to the US-Iran war. The company also cited a negative effect from a price cap on 10 top-selling pharmaceutical products under new US rules that took effect January 1. Walmart raised its full-year profit and sales forecast and said it executed more than 11,000 price cuts in the quarter. Shares fell 9.4 percent in mid-morning trading.
Walmart Inc.Profits fell 9.4% and shares dropped 9.4% on mixed results despite raised forecast.
