Walmart's Q1 results beat expectations, but its financial outlook for the year and current quarter fell short, causing its stock to drop 8%. The retailer cited high gas prices straining consumer budgets, especially for lower-income shoppers, despite overall strong sales.
Walmart reported weaker-than-expected financial outlook for fiscal 2027 and the current quarter, citing high gas prices straining U.S. consumer budgets. Despite strong first-quarter sales, the retailer anticipates lower earnings per share than projected.
AI giants Anthropic and OpenAI are set to dominate future cloud revenues, reportedly accounting for half of a massive $2 trillion backlog. These companies' substantial, multi-year spending commitments, reaching hundreds of billions, are significantly shaping the financial outlook for major cloud providers like Google, Amazon, and Microsoft, highlighting a massive shift in infrastructure demand.
