Walmart beats and raises guidance
Walmart on Thursday reported third-quarter adjusted earnings and revenue that topped Wall Street estimates, boosted by continued growth from its e-commerce platform.
The big-box retailer earned an adjusted $1 per share, edging out the $0.98 that Wall Street was expecting. Revenue came in at $123.18 billion, easily beating the $121 billion that was expected.
America's largest brick-and-mortar retailer said US comparable-store sales rose 2.7% versus a year ago, making for the 13th straight quarter with positive results.
"We are pleased with the strong results in the quarter across each of our business segments, and I want to thank our
associates for their commitment and great work to make it happen," Walmart President and CEO Doug McMillon said in the earnings release. "We have momentum, and it's encouraging to see customers responding to our store and eCommerce initiatives. We are leveraging our unique assets to save customers time and money and serve them in ways that are easy, fast, friendly and fun."
Walmart sees fiscal year 2018 adjusted earnings per share of $4.38 to $4.46.
Shares are trading higher by 3.33% at $92.852 in pre-market action. They've gained nearly 35% this year.
