Walmart reported net income of $5.147 billion in the second fiscal quarter of 2023, which ended at the end of July this year.
The figure is equivalent to adjusted earnings per share of $1.77, up from FactSet’s forecast of $1.62.
Net income for the quarter was 17.9% higher than the same period last year, according to Walmart.
The retail giant’s revenue totaled US$ 152.859 billion, 8.4% more than a year ago and above the analysts’ estimate of US$ 150.99 billion.
In view of the better-than-expected results, Walmart’s share rose 3.30% on the pre-market of the New York stock exchanges at 8:30 am (GMT).
Among other details of the balance sheet, the company said that comparable store sales grew 6.5% compared to last year, while sales on digital platforms increased 12%.
Walmart also maintained its expectations for the second half of fiscal 2023 and expects adjusted earnings per share to decline 11%, in addition to a 10% decline in operating profit in the fiscal third quarter.
The company should still have a 5% growth in net sales in the period, in the face of a loss of US$ 1.3 billion due to currency fluctuations, it projects.
Source: CNN Brasil
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