Walmart Raises Guidance Following Strong Earnings Report

Walmart continues to thrive as cost-conscious consumers flock to the retailer in search of value, Yahoo Finance's Brooke DiPalma reported.

Walmart posted $169.59 billion in sales. I Photo: Mike Mozart Flickr

The retail giant exceeded Wall Street expectations in its fiscal third-quarter earnings report. Walmart posted $169.59 billion in sales, surpassing analysts' predictions of $167.5 billion.

Adjusted earnings per share came in at $0.58, beating estimates by 5 cents. "We had a strong quarter, continuing our momentum," CEO Doug McMillon stated.

"In the U.S., in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that." Shares rose over 4% in premarket trading last week, bringing the stock's year-to-date gain to 60%, far outpacing the Dow Jones Industrial Average's 15% increase.

Same-store sales growth climbed 5.5%, above the expected 3.81%, with traffic and ticket growth also exceeding projections. E-commerce led the way with a remarkable 22% increase compared to an anticipated 2.22% growth.