Walmart raises earnings forecast for year after jump in quarterly sales

Author: 
Reuters
ID: 
1565867576728274400
Thu, 2019-08-15 11:08

WASHINGTON: US retailer Walmart on Thursday reported an
estimate-beating jump in second-quarter US comparable sales, and
boosted its earnings forecast for the year.
Sales at US stores open at least a year rose 2.8 percent, excluding
fuel, in the quarter ended July 31. Analysts estimated growth of
2.07 percent, according to IBES data from Refinitiv.
Adjusted earnings per share increased to $1.27 per share, beating
expectations of $1.22 per share.
Online sales surged 37 percent, in line with the previous
quarter’s increase and higher than the company’s
expectation.
Total revenue was up 1.8 percent at $130.4 billion, beating
analysts’ estimates of $130.1 billion.

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Source: FS – All-News-Economy
Walmart raises earnings forecast for year after jump in quarterly sales