Retail giant Walmart Inc. (NYSE: WMT) on Tuesday reported impressive earnings and revenue growth for the third quarter of 2023. The numbers also came in above the consensus estimates.
Third-quarter earnings, excluding special items, rose to $1.50 per share from $1.45 per share in the corresponding period of 2022. It was also above the experts’ projection. On an unadjusted basis, the company reported a net loss of $1.79 billion or $0.66 per share, compared to a profit of $3.11 billion or $1.11 per share a year earlier.
At $152.8 billion, total revenues were up 8.7% year-over-year during the three-month period, which is also above the estimates. U.S comparable store sales increased by 8.2%.
Check this space to read management/analysts’ comments on Walmart’s Q3 results
Walmart’s stock gained Tuesday morning soon after the earnings announcement, after closing the previous session lower.