Walmart (NYSE: WMT) stock jumped about 6% in the pre-market trading hours after the company reported better-than-expected second quarter 2021 financial results. The retail giant’s adjusted EPS of $1.56 and revenue of $137.7 billion excelled analysts’ estimates.
On a GAAP basis, earnings soared 80% to $2.27 per share. Walmart US eCommerce sales grew 97% with strong results across all channels.
Walmart U.S. comp sales increased by 9, led by strength in general merchandise and food.
WMT stock had gained 14% since the beginning of this year and 20% in the past 12 months.
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Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard