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Walmart Exceeds Q2 Expectations, Raises Outlook; Shares Surge 7%, eCommerce Sales Grow 22%
Aug 15, 2024, 11:43 AM
Walmart reported strong financial results for the second quarter of fiscal year 2025, exceeding analysts' expectations. The company posted earnings per share of $0.67, surpassing the anticipated $0.65, and revenue of $169.3 billion, exceeding the expected $168.5 billion. Walmart's eCommerce sales grew by 22%, driven by a 50% increase in store-fulfilled delivery and significant growth in its marketplace and advertising sectors. The retailer also raised its full-year profit forecast, citing stable consumer health and increased demand for essential goods. Walmart's stock surged to an all-time high, reflecting investor confidence in the company's performance and outlook. The company noted that it continues to gain market share, particularly among wealthier households, and observed no significant weakening in consumer spending. US same store sales increased by 4.2%, and Sam's Club sales rose by 4.7%. Walmart shares surged by 7%.
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