By  on May 17, 2018

Walmart Inc. stock was on the rise in early morning trading after the retailer beat Wall Street estimates for first quarter results. While overall profits dropped 30 percent because of the impact of Walmart’s investment in JD.com, profits of $1.14 a share on revenue of $122.7 billion beat Wall Street’s estimate of $1.12 a share on $120.5 billion, an increase of 4.4 percent. This was enough for investors, who sent the shares up 1.94 percent to $86.13 in early morning trading. The retail giant recorded $1 in profit on revenue of $117.5 billion in the same period last year.

Walmart U.S. same-store sales increased 2.1 percent; comparable traffic rose 0.8 percent, while Sam’s Club’s comps increased 3.8 percent, and net sales at Walmart International of $30.3 billion gained 11.7 percent, with eight of the eleven markets posting positive comps, including the retailer’s four largest markets.

To continue reading this article...

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus