WASHINGTON: US retailer Walmart on Thursday reported an estimate-beating jump in second-quarter US comparable sales, and boosted its earnings forecast for the year.
Sales at US stores open at least a year rose 2.8 percent, excluding fuel, in the quarter ended July 31. Analysts estimated growth of 2.07 percent, according to IBES data from Refinitiv.
Adjusted earnings per share increased to $1.27 per share, beating expectations of $1.22 per share.
Online sales surged 37 percent, in line with the previous quarter’s increase and higher than the company’s expectation.
Total revenue was up 1.8 percent at $130.4 billion, beating analysts’ estimates of $130.1 billion.
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Walmart raises earnings forecast for year after jump in quarterly sales
Walmart raises earnings forecast for year after jump in quarterly sales
- Online sales surged 37 percent, in line with the previous quarter’s increase and higher than the company’s expectation
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