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Walmart: Upgraded estimates for the third consecutive quarter

Walmart Inc. shares rose 2.2% in pre-conference trading as the retailer upgraded earnings estimates for the full year, for the third consecutive quarter.

Net income was $ 3.11 billion, or $ 1.11 a share, down from $ 5.14 billion, or $ 1.80 a year, a year ago.

Adjusted earnings per share at $ 1.45, exceeded estimates for $ 1.40.

Revenue rose to $ 140.53 billion from $ 134.71 billion a year ago, to $ 135.43 billion analysts had expected.

E-commerce sales in the US increased 8% year-on-year and increased 87% over two years ago.

Walmart’s international sales fell 20.1% to $ 23.6 billion, mainly due to sales.

US stocks rose 11.55 ahead of the holiday. For the full year it expects earnings per share of $ 5, adjusted earnings per share of $ 6.40, higher than previous estimates for $ 6.20-6.35.

Convergent estimates spoke of earnings per share of $ 6.34.


Source From: Capital

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