Walmart Q1 income falls 38% over $16 bn Flipkart integration

Declaring 2019's first quarter earnings, Walmart said its international operating income dipped 38% in constant currency "largely due to dilution from Flipkart". "The decline was expected, partially offset by deconsolidation of Brazil," Walmart added. Walmart bought 77% stake in Flipkart for $16 billion last May and had lowered its profit forecast for the fiscal ending January 2019.