Walmart’s online sales are surging heading into holidays

Walmart is raising its profit expectations with online sales surging 41% the third quarter.

The world’s biggest retailer reported particularly strong sales in the grocery aisle where competition is growing increasingly fierce.

The company on Thursday posted net income of $3.29 billion, or $1.15 per
share. Per-share earnings were $1.16 when adjusted, easily topping Wall Street projections of $1.09, according to a survey by Zacks Investment Research.

Revenue was $127.99 billion in the period, and sales at stores opened at least a year rose 3.2%, marking the 21ststraight quarter of increases.

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