Strong sales, profit from Walmart on cusp of holiday season
ABC News
Walmart delivered strong fiscal-third quarter results that beat Wall Street estimates, offering encouraging signs for the crucial holiday shopping season that’s being challenged by snarled supply chains and rising costs
NEW YORK -- Walmart topped almost all expectations in the third quarter, an encouraging sign for the upcoming holiday shopping season already beset by snarled supply chains and rising costs.
The Bentonville, Arkansas, company also raised its full-year earnings guidance and shares rose almost 2% before the opening bell Tuesday.
Walmart posted a profit of $3.1 billion, or $1.11 per share, during the three-month period ended Oct. 31. Adjusted results were $1.45 per share, A nickel better than Wall Street had expected, according to a survey a survey of industry analysts by FactSet.
Net profit in the year-ago period was $5.13 billion, or $1.80 per share.
