Walmart Posts Strong Q3 Results, Raises Guidance

Walmart reported strong third-quarter earnings, exceeding analysts' expectations with revenue of $169.6 billion and adjusted earnings per share of $0.58, leading to a 3% increase in stock price and a new all-time high of $88.29. The company attributed its growth to a surge in eCommerce and advertising sales, both of which increased by over 27% year-over-year. Walmart also raised its full-year guidance, projecting sales growth of 4.8% to 5.1% and adjusted EPS of $2.42 to $2.47. CEO Doug McMillon noted that households earning over $100,000 comprised 75% of market share gains, while in-store and delivery sales showed robust growth despite challenges like a US port strike and hurricanes. Analysts suggest that Walmart's focus on high-margin advertising and digital operations positions it well against competitors like Amazon. Overall, Walmart's strategies reflect a strong grasp of consumer needs, contributing to a remarkable 60% stock increase this year.