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8/15, 1:02 PM (Source: TeleTrader)
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Walmart's revenue up 2% to $130.37B in Q2

Walmart Inc. reported on Thursday that its revenue in the second quarter of fiscal 2020 amounted to $130.37 billion, marking a 2% increase compared to the same period a year ago and topping market estimates. The retailer added its US comparative sales climbed by 3% and US eCommerce sales surged 37% year on year.

Diluted GAAP earnings per share (EPS) for the three-month period stood at $1.26, surging from a loss per share of $0.29 in the same quarter of fiscal 2018, while GAAP net income was $3.6 billion. Operating income decreased 3% year on year to $5.6 billion.

"We're pleased with the strength we see in the business. Customers are responding to the improvements we're making, the productivity loop is working, and we're gaining market share. We're on track to exceed our original earnings expectations for the year, and that's possible because of the work our associates do every day," CEO Doug McMillon stated.

Walmart shares soared 6.03% in premarket trading on better-than-expected results and improved outlook.

Breaking the News / NP