US Stock Market Move | Walmart Inc. (WMT.US) fell more than 4% as Q2 earnings were surprisingly below expectations.

On Thursday, Walmart Inc. (WMT.US) fell more than 4% to $98.33. The financial report showed that Walmart Inc.'s Q2 revenue increased by 4.8% year-on-year to $177.4 billion, exceeding market expectations. Non-GAAP earnings per share were $0.68, below market expectations, due to an increase in insurance claims expenses. The company stated that second-quarter profits were under pressure, including the impact of some one-time costs such as restructuring costs, higher insurance claims, and litigation and settlement costs. Operating profit declined by 8.2% due to special legal and restructuring expenses. Looking ahead, although profits fell short of expectations, Walmart Inc. raised its full-year sales forecast. Walmart Inc. now expects net sales to increase by 3.75% to 4.75% this year, up from the previous guidance of 3% to 4%. The company also raised its adjusted earnings per share forecast to $2.52 to $2.62, up from the previous guidance of $2.50 to $2.60, and market expectations at $2.62.