Walmart on Thursday reported first-quarter earnings and sales that topped analysts’ expectations amid heavy investments to beef up its ecommerce unit and contain the threat from Amazon.
Adjusted earnings per share came in at $1, America’s largest retailer said in a statement, beating analysts’ forecast for $0.96 according to Bloomberg. Sales at stores open for at least one year rose by 1.4%, ahead of the forecast for 1.3%.
Gross merchandise volume in Walmart’s ecommerce unit – the value of everything that was sold through it – jumped by 69% compared to the prior year.
Walmart’s stock fell 1.5% in premarket trading. The company said it expects second-quarter EPS at between $1 and $1.08, excluding a $0.05 benefit, which missed expectations.
Het bericht Walmart beats on earnings as online sales surge verscheen eerst op Business Insider.