BENTONVILLE, Ark. (AP) – Walmart is raising its outlook for the year after
beating all expectations for the second quarter and registering the strongest
same-store sales growth in a decade.
Shares surged 7 percent before the opening bell Thursday.
The Bentonville, Arkansas, retailer had a loss of $861 million, or 29 cents
because of some sizeable investments. Adjusted for those one-time costs,
however, per-share earnings were earnings were $1.29 per share, easily topping
Wall Street projections of $1.21 per share, according to Zacks Investment
Research.
Walmart Inc. posted revenue of $128.03 billion, also beating projections.
Sales at existing stores jumped 4.5 percent and e-commerce sales grew 40
percent.
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