With elevated prices for groceries, Walmart delivered adjusted earnings of $1.71 a share, beating estimates of $1.52. Revenue reached $164 billion, up 7.3%, beating estimates of $159.7 billion, according to FactSet.
The company's quarterly attributable net income also went up, rising 76.2% to $6.28 billion, helped by unrealized gains in equity and other investments.Meanwhile, U.S. same-store sales, an industry metric tracking revenue at stores open for more than a year, peaked at 8.3% to pummel expectations for a 4.9% increase.
Streeter said the world's largest retailer does have an opportunity to widen market share if consumers can be persuaded to hang around once inflationary pressures subside. "Walmart's multi-channel approach should stand it in good stead in this respect. While it has seriously upped its e-commerce game, it also caters for the ‘shopping experience’ through its vast network of bricks and mortar stores.
Of course they have. DNC dirty deals with cartels afford free product to many 100s of thousands of shoplifters that are now almost routine 24/7 on (ignored, unreported, erased) store cctv video. Duh.
Stock is up, go figure