The post Walmart earnings and guidance grow in Q2 as ecommerce sales surge appeared on BitcoinEthereumNews.com.

Walmart stock jumps on top, bottom line beats. Revenue rises 5% from one year ago as ecommerce sales expand. Management does not expect an impending US recession of any kind. Fiscal 2025 guidance is raised across the board as WMT reaches new all-time high.     Walmart (WMT) held nothing back in the results released on Thursday morning, handily beating Wall Street consensus and raising its fiscal year 2025 guidance. WMT shares rose 6.5% to an all-time high above $73 per share. The Dow Jones index jumped 1.2% at Thursday’s open, aided by Walmart and the previous day’s Cisco (CSCO) results. US Retail Sales also helped out the index and market as large with a 1% MoM rise in July compared with consensus for 0.3%. The S&P 500 rose 1.4%, while the NASDAQ climbed 2%. Dow Jones Industrial Average bolstered by US CPI inflation into a second day of gains Walmart stock earnings news Walmart reported second-quarter adjusted earnings per share (EPS) of $0.67, which was 2 cents ahead of consensus. Revenue of $169.3 billion in the quarter ending in July rose nearly 5% YoY and beat consensus by a little less than $2 billion. Management said that customers looked healthy and denied worries that a US recession is in the cards. This opinion appeared to be backed up by the higher US Retail Sales data that was released nearly simultaneously from the US Census Bureau. Besides the headline quarter beat, shareholders took additional sustenance from the fact that Global eCommerce division sales climbed 21% YoY as losses narrowed. For the current fiscal year ending in January 2025, management expects net sales to grow about 4.25% YoY at the midpoints and for adjusted operating income to grow a little over 7%. Both of these projects were slightly above past statements…

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Filed under: News - @ August 15, 2024 5:19 pm