Walmart Stock Soars After Blasting Q3 Earnings, Improving Forecast

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Updated at 8:25 am EST

Walmart  (WMT) – Get Free Report posted stronger-than-expected third quarter earnings Tuesday, while trimming its expected profit decline for final months of the year, as the world’s biggest retailer continued to benefit from a shift in value-focused spending from American consumers.

Walmart said adjusted earnings for the three months ended in October came in at $1.50 per share, up 3.4% from the same period last year and well ahead of the Street consensus forecast of $1.32 per share.

Group revenues, the company said, were tabbed at $152.8 billion, an 8.7% increase from last year that firmly topped analysts’ estimates of $147.75 billion. U.S. same-store sales rose 8.2% from last year, the company said, firmly topping the Refinitiv forecast of 4.6%. Inventories, which were up 25% from last year at the end of the second quarter, narrowed to a 12.7% gain over the three months ending in October.

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