The American retailer has had an even better fiscal quarter ending in June than its Chinese counterpart Alibaba. Walmart also reported earnings on Thursday before the Market Close, and the company’s earnings per share reached $1.27, which is marginally better than the initial forecasts of reported EPS at $1.22.
The biggest delight to investors came in from the revenue data, which registered a growth in revenue to a total of $130.4 billion, an increase of $2.3 billion or 1.8 per cent. The most significant contributing factor to the company’s success in the past quarter was the robust eCommerce sales, which grew markedly with 37 per cent. The President and CEO of Walmart, Doug McMillon, commented on the registered performance of the company:
“From a performance point of view, we're pleased with the strength we see in the business. Customers are responding to the improvements we're making, the productivity loop is working, and we're gaining market share. We're on track to exceed our original earnings expectations for the year, and that's possible because of the work our associates do every day.” [source]
Walmart's share price soared on Thursday following the release of the earnings report with 6.11 per cent and closed the daily trading session at 112.69. Thus, the price is currently trading just below its all-time high level of 115.49.
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