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FX.co ★ Walmart's profit surges amid online sales

Walmart's profit surges amid online sales

Walmart's profit surges amid online sales

According to the earnings report, Walmart Inc., one of the leading retailers, increased its profit by 56% to $5.14 billion or $1.80 per 1 share in the third quarter of the current fiscal year. At the same time, earnings per share excluding temporary factors totaled $1.34.

Overall, for the fiscal quarter ended on October 31, its revenue rose by 5.2% to $134.71 billion. At the same time, the reading was slightly lower compared to the previous two quarters.

Walmart's sales in the United States climbed by 6.4% on the back of growing demand for consumer goods, food, and health products. Importantly, the company's online sales swelled an impressive 79%.

The current figures exceeded analysts’ expectations whose average forecast for adjusted earnings was $1.18 per share, for revenue - $132.13 billion, and for sales in the United States – no more than 4.3%. The average check at Walmart in the third quarter grew by 4% and store traffic jumped by 6.8%.

Since the beginning of this year, the market cap of Walmart has soared by 28.3%. On Tuesday, November 17, the shares of the leading retailer fell slightly.


*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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