U.S. retailer Walmart (WMT) has raised its full-year guidance after beating Wall Street expectations for its second-quarter financial results.
Driven by strong grocery sales and online spending, Walmart reported Q2 earnings per share (EPS) of $1.84 U.S. versus $1.71 U.S. that was expected.
Revenue in the April through June period amounted to $161.63 billion U.S. compared to $160.27 billion U.S. that was the consensus expectation among analysts who cover the company.
The big box retailer said its e-commerce sales during Q2 rose 24% from a year earlier. Same-store sales increased 6.4% in Q2, excluding fuel, compared with a year ago.
Walmart said it now expects full year sales to increase between 4% and 4.50%, and EPS for the year will range between $6.36 U.S. and $6.46 U.S.
That compares with previous guidance for consolidated net sales gains of 3.50% and EPS of between $6.10 U.S. and $6.20 U.S.
Walmart’s stock has increased 14% over the last 12 months to trade at $159.26 U.S. per share.
