CEO Doug Mcmillon Tells Jim Cramer He Foresees Bright Future For Walmart's Advertising Business: 'We Can Connect The Dots'
Portfolio Pulse from Benzinga Neuro
Walmart Inc's CEO Doug McMillon, in an interview with Jim Cramer, expressed optimism about the company's advertising business, highlighting its 28% growth and the strategic acquisition of TV manufacturer Vizio for $2.3 billion. McMillon emphasized Walmart's unique position to leverage its digital and e-commerce growth for advertising sales, attributing success to its ability to connect digital ads with in-store transactions. This comes alongside Walmart's strong financial performance, including surpassing $100 billion in e-commerce sales and exceeding Q4 earnings expectations.
February 21, 2024 | 4:10 am
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Walmart's advertising business sees a 28% growth, with e-commerce sales exceeding $100 billion. The acquisition of Vizio for $2.3 billion is expected to further boost its advertising capabilities. Walmart's strong financial performance and strategic focus on advertising and e-commerce are likely to positively impact its stock.
The positive outlook shared by CEO Doug McMillon, coupled with Walmart's strategic acquisition of Vizio and significant growth in its advertising business, suggests a strong potential for stock appreciation. The company's ability to leverage its digital and e-commerce platforms for advertising sales, along with surpassing $100 billion in e-commerce sales, positions Walmart favorably in the market. The CEO's confidence and the company's recent financial successes further support a positive short-term impact on Walmart's stock.
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