Walmart Earnings Q3 Hits $169 Billion, EPS Surges by 850%, Black Friday? … Walmart (WMT, Financial) exceeded analysts’ projections for both revenue and earnings in the third quarter.
A 5.4% increase in net sales to $169 billion was accompanied by an 8.2% increase in operating profits to $6.7 billion. EPS rose 850% to $0.57 as a result of share buybacks.
Walmart profits from shoppers who are concerned about inflation. Food and pharmacy were the primary drivers of the 5.3% increase in US same-store sales.
Even among high-income earners, the firm saw positive market penetration in terms of income-earner status this year.
Walmart increased its full-year EPS prediction for the second time in fiscal 2024 as a result of this strong performance.
With currency movements excluded, the company now projects an 8.5% to 9.25% growth in adjusted operating income and a 4.8% to 5.1% increase in net sales.
Walmart’s impressive results show that the company is ready for a countercyclical economy. Its low-cost product strategy is paying off, particularly when consumer spending rises due to inflation. Walmart Earnings Q3 Hits $169 Billion, EPS Surges by 850%, Black Friday?
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