Wal-Mart Stores Inc Stock Rockets Higher After Huge Earnings Beat

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Wal-Mart Stores Inc (NYSE:WMT) stock was surging higher today following the release of its earnings report for the fiscal third quarter of 2018.

Wal-Mart Stores Inc Stock Rockets Higher After Huge Earnings Beat

During the fiscal third quarter of the year, Wal-Mart Stores Inc reported earnings per share of $1.00. This is an increase over its earnings per share of 96 cents from the same time last year. It was also a boon to WMT stock by beating out Wall Street’s earnings per share estimate of 97 cents for the quarter.

Revenue reported by Wal-Mart Stores Inc in its fiscal third quarter of 2018 was $122.14 billion. The retail company’s revenue from the same period of the year prior came in at $117.18 billion. Analysts were looking for WMT to report revenue of $121.00 billion for its fiscal third quarter of the year.

Wal-Mart Stores Inc’s positive fiscal third quarter of 2018 was partially fueled by its growing e-commerce efforts. The retailer notes that revenue from e-commerce during the quarter was up 50% from its fiscal third quarter of 2017. It also notes that GMV from e-commerce was up 54% when compared to the same quarter of the previous year.

Wal-Mart Stores Inc also provided guidance for the fiscal full year of 2018 in its most recent earnings report. The company says that it is expecting earnings per share for the year to range from  $4.38 to $4.46. This is good news for WMT stock as Wall Street is estimating earnings per share of $4.38 for the year.

WMT stock was up 8% as of Thursday morning and is up 41% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/wal-mart-stores-inc-stock-jumps-on-earnings-beat/.

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