5/19, 1:03 PM (Source: TeleTrader)
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Walmart tops estimates with revenue at $134.62B in Q1

Walmart Inc announced on Tuesday that its revenue for the first quarter of fiscal 2021 stood at $134.62 billion to beat estimates, growing 8.6% comaped to the same period last year. The company's sales went up by 10% annually led by strength in food, consumables, health & wellness, landing at $88.7 billion with e-commerce sales in the United States soaring 74% over the same period.

The Arkansas-based firm said its diluted net income per common share amounted to $1.4 in the first trimester of the fiscal year, climbing 5.3%, while operating income rose 5.6% year-over-year to $5.2 billion.

"I’m proud of how they’re adapting and performing. Our omnichannel strategy, enabling customers to shop in seamless, flexible ways, is built for serving the needs of customers during this crisis and in the future," Walmart President and CEO Doug McMillon said in a statement.

The retail corporation's shares surged over 4% in premarket trade following the announcement.

Breaking the News / GA