One of the world's largest retailers – Walmart posted Q3 2020 earnings that came in higher than expected.
In Q3, Walmart had an EPS of $1.34, topping the $1.18 anticipated. The revenue also came higher than the $132 billion forecasted at $134.7 billion. Moreover, the US e-commerce surged 79% in the quarter.
Walmart's net sales figures came in at $29.6 billion, marking a 1.3% increase from last year's numbers.
The report came after the company announced that it sold a majority part of its stake in Japan's Seiyu after buying it in 2002. Moreover, Walmart is looking to close a $1.65 billion deal with KKR and Rakuten. The deal implies that KKP will buy 65% of Seiyu, while Rakuten will purchase a 20% stake. Walmart will have left a 15% stake in the abovementioned company.
Year-to-date, the Walmart stock price gained 28%, while USA30 went up 4.95%.
Read more about how other companies have performed in the past quarter here!
Sources: investing.com, reuters.com