By  on November 14, 2019

Doug McMillon, chief executive officer of Walmart Inc., declared the economic health of consumers to be strong on Thursday when the retailer reported another solid quarter of results. With Black Friday a little over two weeks away, McMillon acknowledged “potential hurdles, including the shortened holiday selling season” and promised to “remain nimble, so we can adjust as needed.”

Walmart’s net income in the third quarter ended Oct. 31, soared 93.3 percent to $3.28 billion, from $1.7 billion in the year-ago third quarter. Total revenue grew 2.5 percent to $127.9 billion from $124.89 billion in the prior year third quarter, but this was below analysts’ estimates of $128.6 billion. Comp-store sales rose 3.2 percent and Walmart Inc.’s third-quarter earnings per share increased 7.4 percent to $1.16, beating Wall Street analysts’ estimates of $1.09 a share.

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