Walmart Misses On Revenue, Comps; EPS Beats Thanks To Lower Tax Rate; Operating Income Slides
by Tyler Durden
ZeroHedge.com
Nov 17, 2016
Retail giant Walmart reported adjusted Q3 EPS of $0.98, beating expectations of $0.96, despite a reported $0.03 hit to the bottom line due to currency impact; the company beat EPS due to a lower provision for income taxes, after it reduced its effective tax rate from 33.8% to 29.3%. Had WMT used its prior year effective tax rate, it would have missed EPS by 5 cents, reporting $0.91 instead.
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