Walmart Raises Full-Year Outlook After Reporting Higher Sales And Strong Digital Performance

Benzinga

Walmart lifted its sales and earnings outlook after strong Q3 revenue driven by surging e-commerce and new customers across income brackets. The company beat expectations with 62 cents adjusted EPS and $179.50B in revenue, while online sales jumped 27% globally. Walmart now expects 4.8%–5.1% full-year net sales growth as delivery coverage hits 95% of U.S. households.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Walmart raised its sales and earnings outlook after reporting third-quarter revenue growth

00:06during my strong e-commerce gains and new customers across income levels, according to CNBC.

00:11Retail giant beat expectations with adjusted earnings of 62 cents per share

00:14and revenue of $179.50 billion.

00:17Walmart raised its full-year net sales outlook to 4.8% to 5.1%,

00:22lifted its adjusted EPS range to $2.58 to $2.63.

00:26E-commerce sales grew 27% globally and 28% in the U.S.,

00:31driven by fast-restore-fulfilled delivery, which now reaches 95% of U.S. households.

00:36CFO John David Rainey said Walmart gained customers across incomes,

00:40saw a temporary dip for paused snap benefits during the shutdown.

00:43For all things money, visit Benzinga.com.

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