On Tuesday, the world’s largest retailer, Walmart, reported third-quarter results that beat Wall Street’s expectations in every way.
Revenue of $169.59 billion beat analysts’ expectations by more than $2 billion. Adjusted earnings per share beat estimates by $0.05 and came in at $0.58. Sales increased by an average of 5.5 percent in each store, which is almost 2 percent higher than forecast.
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The largest US retail chain announced the results of the previous quarter and a positive forecast for the future. The stock then rose 6% and closed at a record high, Yahoo Finance reported.
The owners of the majority shares of the giant US retail chain Walmart, i.e. members of the Walton family, which founded the company, sold the company’s shares for $1.5 billion, Bloomberg reported.
On Friday’s shortened trading day and trade holiday, Wall Street’s major indexes closed in different directions: the S&P 500 rose +0.06%, the Dow 30 advanced +0.33%, while the Nasdaq fell -0.11%.
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Source: www.aripaev.ee
