Revenue surged 5% to $169.3 billion in the second quarter, which was ahead of estimates of $168.6 billion.
In addition, Walmart International made $30 billion in the quarter, up 7%, with eCommerce sales up 18% and advertising revenue up 23%. Operating income rose 16% year-over-year. Further, Sam’s Club revenue increased 5% to $23 billion while its operating income jumped 12%. In addition, earnings per share was boosted to a range of $2.35 to $2.43 for the full year, up from the previous $2.23 to $2.37 EPS. The upper end of the new range is in line with analysts’ expectations.
The stock is already up 39% so how much run does it have left? With a P/E of 29 and a forward P/E of 28, its valuation is a bit on the high side, but its price-to-sales ratio is low at 0.85.
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