Walmart earnings top estimates fueled by strong grocery sales and back-to-school spending

Walmart said the retail giant gained ground in its grocery business and had a strong start in back-to-school sales in the fiscal second quarter.

The discounter also sharpened its forecast for the year, saying it now anticipates that earnings per share will be between $6.20 to $6.35. It said it expects Walmart U.S. same-store sales to increase by 5% to 6%, excluding fuel. Here's what the company reported for the fiscal second quarter ended July 31, according to Refinitiv consensus estimates:Revenue: $141.05 billion vs. $137.17 billion expected

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