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Walmart Beats Earnings and Raises Full Year Guidance

Walmart Beats Earnings and Raises Full Year Guidance

Walmart (WMT) beat earnings expectations for the first quarter of fiscal 2024, reporting earnings per share of $1.32 on revenue of $148.8 billion. This compares to earnings per share of $1.25 on revenue of $144.6 billion in the same quarter last year.


The company's results were driven by strong same-store sales growth of 5.5%, which was above expectations of 5.1%. Walmart's e-commerce sales also grew 16%, which was above expectations of 15%.

In addition to beating earnings, Walmart also raised its full year guidance. The company now expects earnings per share to be in the range of $6.10 to $6.20, up from its previous guidance of $5.90 to $6.05. Walmart also expects consolidated net sales to increase 3.5% from the $605.9 billion it recorded last year.


Walmart's results are a positive sign for the retail industry. The company's strong performance suggests that consumers are still spending, even in the face of rising inflation. Walmart's success is also a testament to its focus on efficiency and innovation. The company has been investing in its supply chain and technology, which has helped it to keep costs low and improve customer service.


Walmart's results are likely to be well-received by investors. The company's stock price rose more than 3% in after-hours trading following the release of its earnings report.


Here are some key takeaways from Walmart's earnings report:


  • Walmart beat earnings expectations for the first quarter of fiscal 2024.

  • The company's results were driven by strong same-store sales growth and e-commerce sales growth.

  • Walmart raised its full year guidance for earnings per share and consolidated net sales.

  • Walmart's results are a positive sign for the retail industry.

  • The company's success is a testament to its focus on efficiency and innovation.


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