Walmart's sales rose and earnings surpassed estimates in the second quarter, sending shares of the retail giant higher.
On Tuesday, Walmart (ticker: WMT) posted adjusted earnings of $1.77 a share, beating analysts’ estimates of $1.63, according to FactSet. Sales of $152.9 billion in the quarter also surpassed the $150.9 billion expected. In the year-ago quarter, Walmart posted $1.78 in per-share earnings on $141 billion in sales.
Walmart’s same-store sales increased 6.5% in the quarter. Sam’s Club, Walmart’s warehouse club, saw comparable sales increase by 9.5%, which missed Wall Street estimates of 10.1%.
Shares of Walmart jumped 4% in premarket trading to $137.89. Coming into Tuesday, the stock has fallen 8.4% this year.
https://www.barrons.com/articles/walmart-earnings-stock-price-51660235876
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