Walmart Q2 Earnings: Smashes Expectations, Strong E-Commerce Growth and Raised Outlook
Portfolio Pulse from Shivani Kumaresan
Walmart Inc (NYSE:WMT) reported Q2 FY24 sales growth of 5.7% YoY to $161.10 billion, beating the analyst consensus estimate. Net sales from Walmart U.S. increased 5.4% YoY, Walmart International rose 13.3%, and Sam's Club fell 0.3%. eCommerce growth was 24% and global advertising business grew by over 35%. The company raised FY24 adjusted EPS guidance from $6.10 - $6.20 to $6.36 - $6.46. WMT shares are trading higher by 1.29% at $161.32 in premarket.
August 17, 2023 | 11:43 am
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POSITIVE IMPACT
Walmart's Q2 FY24 results beat estimates with strong sales growth and raised EPS guidance. This positive news has led to a premarket increase in WMT shares.
Walmart's Q2 FY24 results exceeded expectations with a 5.7% YoY sales growth and a raised EPS guidance. This positive financial performance is likely to boost investor confidence, leading to a short-term increase in the stock price. The stock is already trading higher in the premarket.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100