Walmart stock is on the rise as Q2 2019 earnings beat Wall Street estimates
U.S. major retail corporation Walmart’s stock is on the rise since Thursday, August 15, when the company revealed its outstanding earnings in the second quarter of 2019.
As per the report, Walmart’s revenue in Q2 2019 reached $130.4 billion, which is slightly larger than the amount expected by the analysts ($130.07).
The earnings per share also grew more than it was earlier predicted ($1.27 instead of $1.22). Moreover, the net income also surpassed the expected amount and reached $3.64 billion versus $3.51 billion.
E-commerce was one of the most successful sectors for Walmart, as its sales gained 37% during Q2 2019. The boost is linked to the growth of the company’s grocery delivery business.
Due to the successful quarter, the retail guan decided to raise its expectations for fiscal 2020 U.S. comp sales, operating income, and EPS.
As the company unveiled its report on Thursday, its stock grew 6.5%. In total, Walmart was up 21.6% on a year-to-year basis. On Friday opening the stock continued to grow, gaining over 1% at press time.