Walmart ( WMT ) reported better-than-expected fourth-quarter results Thursday, but its guidance came in short of estimates, sending shares sharply lower.

The retail giant posted adjusted earnings per share (EPS) of $0.66 on revenue of $180.55 billion for the final quarter of fiscal 2025. Analysts polled by Visible Alpha were looking for $0.64 and $180.31 billion, respectively.

Walmart's guidance for the first quarter and fiscal 2026 missed expectations. It said it expects revenue to grow 3% to 4% in both the first quarter and full year, while analysts had expected 3.7% and 4.2% growth, respectively. The company sees adjusted EPS between $0.57 and $0.58 in the first quarter and $2.50 to $2.60 for the year, both below consensus.

A number of analysts had lifted their price targets in the weeks leading up to Walmart's earnings, citing optimism that the retailer was likely to top fourth-quarter estimates. They also said they expected Walmart to issue guidance more conservative than estimates, as it had done previously.

Shares of Walmart, which had risen more than 80% over the past 12 months, were down 6% shortly after markets opened Thursday.

UPDATE—This article has been updated with the latest share price information.

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