Walmart earnings beat estimates, shares rise on higher outlook ahead of holidays

  • 📰 CNBC
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Walmart beat Q3 estimates on Thursday and raised its annual earnings outlook for the second time this year ahead of the holiday season.

's online sales grow 41% in the third quarter, the company said Thursday, fueling an earnings beat and 21 quarters of growth in the U.S.

Programming note: Walmart CEO Doug McMillon will address CNBC's Evolve event next week. Register to attend atTotal revenue grew 2.5% to $127.99 billion from $124.89 billion a year ago. But that fell slightly short of expectations for $128.65 billion. Walmart said the average ticket in the U.S. grew 1.9% compared with a 1.8% increase a year ago. Transactions were up 1.3% in the latest quarter, slightly lower than growth of 1.6% this time last year.The company said e-commerce sales were up 41%, thanks to "strong growth" in online grocery. The company has been calling for U.S. e-commerce sales growth of 35% for the year, which would be slightly less than what it logged in fiscal 2019.

"We need to translate this repetitive food and consumable volume into a stronger Walmart.com business that's profitable over time, so that's what we're working on," the CEO added.with tension brewing internally, as the company still loses money online for all the investments it has made to acquire brands and speed delivery. Walmart said its operating income during the third quarter fell 5.4% from a year earlier.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Walmart raises earnings forecast, expects strong holiday salesWalmart Inc reported better-than-expected third quarter U.S. comparable sales on... WalMart has not paid me yet the 8 billion dollar debt due to the purchase of my Continente food distribution chain in Brazil. I ask if the solution to this problem involves freezing the bank accounts of Walmart family and administrators? I hope all their employees get a nice Christmas bonus or at least store credit. Walmart I’m not buying anything except food this year. They won’t get a penny from me. Sorry family no new TV, phone or whatever else is on your list. Just come over play some games eat some great food.
Source: Reuters - 🏆 2. / 97 Read more »

Options traders are bullish on Walmart's make-or-break earnings reportThe U.S. consumer trade is stumbling, and it faces a make-or-break moment when Walmart reports earnings on Thursday. Options traders are feeling bullish on the outcome.
Source: CNBC - 🏆 12. / 72 Read more »