Walmart Inc. (NYSE: WMT) on Tuesday reported impressive earnings and revenue growth for the third quarter of 2022. The numbers also came in above the consensus estimates, sending the retail giant’s stock higher in the pre-market session soon after the announcement.
Third-quarter earnings, excluding special items, rose to $1.45 per share from $1.34 per share in the corresponding period of 2021. It was also above experts’ projection. Unadjusted net income was $3.1 billion or $1.11 per share, compared to $5.14 billion or $1.80 per share a year earlier.
At $140.5 billion, total revenues were up 4.3% year-over-year during the three-month period, which is above the estimates. U.S comparable store sales increased 9.2%.
Read management/analysts comments on Walmart’s Q3 results
Walmart’s stock gained Tuesday morning immediately after the earnings announcement, after closing the previous session lower.