Walmart Reports Strong Q2 Revenue, Beating Expectations
In the second quarter that ended on July 31, Walmart's revenue rose to 169.3 billion U.S. dollars, up 4.8 percent from the same period a year earlier.
The Arkansas-based chain reported earnings of 4.5 billion dollars, or 67 cents per share, down from a year ago, but better than Wall Street expected.
Online sales in the second quarter rose 22 percent year on year, led by delivery and curbside pickup, the company said.
Walmart's performance beat analyst estimates and its shares climbed over 6 percent in early trading.
With the upbeat quarterly results, the retail giant said it has seen steady consumer health and raised its full-year guidance.
Walmart forecast its net sales for the full year will grow in the range of 3.75 percent to 4.75 percent, compared with a prior range of 3 percent to 4 percent.
John David Rainey, Walmart's chief financial officer, said the company's brighter outlook reflected strength in the first half of the year, but he was cautious about the second half of the year, citing that the 2024 U.S. election, unrest in the Middle East and other dynamics may influence consumer sentiment.
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