Walmart Shares Jump on Q2 Earnings Beat, Guidance Raise

threw its weight around in the second quarter, gaining share as the world’s largest retailer became even bigger.

Revenues for the quarter ended July 31 grew 4.8 percent to $169.3 billion, with comparable sales in the namesake U.S. business rising 4.2 percent on top of a 6.4 percent gain a year earlier. Although inflation has dipped back down to more usual levels, steady price increases since the pandemic have pressured many shoppers, playing totakes advantage of its positioning in the mass market, it is also evolving into a much more forward leaning business model with more digital components.

Net profits fell by 43 percent to $4.5 billion, or 56 cents a share, from $7.9 billion, or 98 cents a year earlier, when the results benefited from a $3.9 billion gain that was slotted into the “other” category. Adjusted profits rose 9.8 percent to 67 cents a share, 2 cents better than the 65 cents analysts forecast, according to Yahoo Finance. , president and chief executive officer, said in a statement: “Each part of our business is growing – store and club sales are up, e-commerce is compounding as we layer on pickup and even faster growth in delivery as our speed improves.

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