Retail giant Walmart Inc. (NYSE: WMT) on Tuesday reported impressive earnings and revenue growth for the fourth quarter of 2023. The numbers also came in above the consensus estimates.
Fourth-quarter earnings, excluding special items, rose to $1.71 per share from $1.53 per share in the corresponding period of 2022. It was also above the experts’ projection. On an unadjusted basis, the company reported a net profit of $6.28 billion or $2.32 per share, compared to $3.56 billion or $1.28 per share a year earlier.
At $164.05 billion, total revenues were up 7.3% year-over-year during the three-month period, which is also above the estimates. U.S comparable store sales increased by 8.3%.
Check this space to read management/analysts’ comments on Walmart’s Q4 results
Walmart’s stock declined Tuesday morning soon after the earnings announcement, after closing the previous session higher.
