One of the largest American multinational retail corporations reported Q1 figures that beat Wall Street’s estimates
For the 2022 fiscal first quarter, Walmart posted an adjusted EPS of $1.69, topping the $1.21 consensus. At the same time, its revenue hit $138.31 billion versus the $131.97 billion expected. Compared to last year’s figures, revenue went up almost 3%.
Walmart’s same-store sales grew 6% in the US, significantly higher than the 0.9% initially touted. Moreover, e-commerce sales rose 37%.
However, for its international stores, the net sales were $27.3 billion, 8.3% lower than what it reported in fiscal 2021. The drop was caused by Walmart divesting part of its global business.
For the future, Walmart expects the “pent-up demand” (the demand for a service or product to be unusually strong) to continue. Walmart’s US operating income and the EPS are likely to increase in the high single-digits.
Following the news, Walmart stock price went up more than 4%.