Walmart (NYSE:WMT) stock is rising on Tuesday following the release of the retail giant’s third-quarter earnings report.
The good news for holders of WMT stock starts with the company’s adjusted EPS of $1.50. That beats out the $1.32 per share that Wall Street had expected for the quarter. It also represents 3.4% growth from the $1.45 per share reported the same time last year.
Adding to that good news is Walmart’s revenue of $152.8 billion. That’s another win for the retailer compared to analysts’ revenue estimate of $147.75 billion. It’s also an 8.7% increase over the $140.5 billion reported the same time last year.
WMT Expects Solid Results for Q4
Walmart’s outlook for the fourth quarter includes an adjusted EPS decline of between 3% and 5%. Considering its Q4 fiscal 2022 adjusted EPS of $1.53, the EPS for Q4 fiscal 2023 should still come in above Wall Street’s estimate of $1.46 per share.
When it comes to Q4 revenue, Walmart also expects growth of 3%. Taking into account its fiscal Q4 2022 revenue of $152.9 billion, this might end up lower than analysts’ revenue estimate of $158.76 billion for the period.
Shares of WMT stock are seeing heavy trading today after beating Q3 estimates. This has some 7 million shares on the move as of this writing. That’s already above the company’s daily average trading volume of about 6.5 million units.
WMT stock is up 7% as of Tuesday morning.
Investors seeking out more recent stock market news will want to keep reading!
We’re offering up all of the latest stock coverage traders need to know about on Tuesday! That includes what has shares of Home Depot (NYSE:HD) stock down, this morning’s biggest pre-market stock movers, as well as inflation capping out. You can read all of that news at the following links!
More Tuesday Stock Market News
- Housing Market Woes Weigh on Home Depot (HD) Stock
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- Has Inflation Peaked? What the October CPI Says.
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
