Walmart on Tuesday lowered its earnings predictions for fiscal 2019, adjusting for the financial impact of its biggest-ever, hard-fought acquisition: Flipkart, an Indian online retailer. After beating out Amazon.com, Walmart bought a 77 per cent controlling stake in Indian online retailer Flipkart for $16 billion (U.S.) earlier this year. Walmart lowered its 2019 fiscal year forecast for adjusted earnings per share to $4.65 to $4.80 from an estimated range of $4.90 to $5.05. Refinitiv, a Thomson Reuters company that estimates financial risk for investors, predicted Walmart’s adjusted earnings per share to be $4.79. Article Continued Below“I feel great about Walmart’s position in this rapidly changing retail landscape,” Walmart chief financial officer Brett Biggs said in a news release.

Source: thestar October 16, 2018 19:18 UTC