8/16, 1:05 PM (Source: TeleTrader)
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Walmart Q2 earnings tops estimates, full-year outlook kept

Walmart Inc. said on Tuesday its revenue for the second fiscal quarter of 2023 increased by 8.4% to $152.9 billion and surpassed market expectations, adding that the company maintained its outlook for the remainder of the year. Operating income remained mostly unchanged at $6.9 billion.

"We're pleased to see more customers choosing Walmart during this inflationary period, and we're working hard to support them as they prioritize their spending. The actions we've taken to improve inventory levels in the US, along with a heavier mix of sales in grocery put pressure on profit margin for Q2 and our outlook for the year," CEO Doug McMillon noted.

Walmart's stocks gained 3.7% in premarket trading following the earnings announcement.

Baha Breaking News (BBN) / ND