BENTONVILLE, Ark. (AP) – Walmart is beating expectations on profit and revenue,
and e-commerce sales surged during the fourth quarter.
Shares moved sharply higher before the opening bell Tuesday.
The company had a fourth-quarter profit of $3.69 billion, or $1.27 per share.
Earnings, removing one-time items, were $1.41 per share, which is 8 cents better
than analysts had expected, according to a survey by Zacks Investment Research.
The Bentonville company had revenue of $138.79 billion, also better
than expected.
Sales at established U.S. Walmart Inc. stores jumped 4.2 percent, easily
beating projections.
Walmart’s performance is encouraging after a dismal government report on
December sales from U.S. retailers.
WebReadyTM Powered by WireReady® NSI