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Walmart Reports Strong Q1 Earnings, EPS $0.60, Revenue $161.51B

May 16, 2024, 11:04 AM

Walmart reported strong Q1 earnings, surpassing analysts' expectations. The retail giant posted an adjusted earnings per share (EPS) of $0.60, beating the estimated $0.52. Revenue for the quarter reached $161.51 billion, exceeding the forecasted $159.50 billion. Walmart's US comparable sales rose by 3.8%, driven entirely by transaction volume, while the average ticket remained flat. Sam's Club saw a 4.6% increase in sales. Global e-commerce sales grew by 21%. The company also updated its guidance, projecting Q2 adjusted EPS between $0.62 and $0.65, and expects FY25 consolidated net sales to be at the high end or slightly above the original guidance. Walmart's stock initially rose by 3% following the earnings report. Net income surged by 205.1%, and the company's market cap stands at $482.22 billion.