BENTONVILLE, Ark. (AP) – 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 percent, its 20th consecutive quarter in the positive direction.
U.S. online sales increased 37 percent, 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 percent before the opening bell.
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