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Walmart Trades Higher On Mixed Q3 Earnings, Raised Guidance

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Walmart Trades Higher On Mixed Q3 Earnings, Raised Guidance

Walmart (NYSE: WMT) reported third-quarter earnings of $1.16 per share Thursday, beating the consensus estimate of $1.09. 

The retailer reported quarterly sales of $128 billion, which missed the consensus estimate of $128.63 billion. 

E-commerce sales jumped 41%, including strength in online grocery, Walmart said. 

Bentonville raised its fiscal year 2020 EPS guidance and said it now expects a slight increase over its fiscal year 2019 EPS. 

"The Walmart EPS business saw strong comp sales and expense leverage, and operating income grew for the sixth consecutive quarter," President and CEO Doug McMillon said in a statement. 

"We also celebrated the first anniversary of Flipkart and PhonePe as part of the Walmart family. It was great to see record sales in India during The Big Billion Days event. Looking ahead, we're prepared for a good holiday season."

Walmart stock was trading 3.22% higher at $124.88 in Thursday's premarket session. The stock has a 52-week high of $121.36 and a 52-week low of $85.78.

Related Links:

Walmart Reports Q2 Earnings Beat

Walmart 'Seriously Considering' IPO Of British Supermarket Chain

Photo by Walmart via Wikimedia

 

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