Walmart is raising its annual outlook after the world’s largest retailer reported strong second-quarter results.
Stores opened at least a year rose 2.8%, its 20th consecutive quarter in the positive direction.
U.S. online sales increased 37%, driven by groceries.
Walmart Inc. on Thursday reported quarterly profit of $3.61 billion, or $1.26 per share, after reporting a loss in the same period a year earlier. Per-share earnings, adjusted for non-recurring costs, were $1.27. That’s a nickel better than Wall Street had expected, according to a survey by Zacks Investment Research.
Revenue was $130.38 billion.
Shares of Walmart Inc. are up 5% before the opening bell.
Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at https://www.zacks.com/ap/WMT