Walmart’s online sales are surging heading into holidays
Posted November 14, 2019 7:28 am.
This article is more than 5 years old.
Walmart is raising its profit expectations with online sales surging 41% the third quarter.
The world’s biggest retailer reported particularly strong sales in the grocery aisle where competition is growing increasingly fierce.
The company on Thursday posted net income of $3.29 billion, or $1.15 per share. Per-share earnings were $1.16 when adjusted, easily topping Wall Street projections of $1.09, according to a survey by Zacks Investment Research.
Revenue was $127.99 billion in the period, and sales at stores opened at least a year rose 3.2%, marking the 21ststraight quarter of increases.
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Part of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at https://www.zacks.com/ap/WMT
Anne D’Innocenzio, The Associated Press
