Walmart's Q3 revenue up by 8.7% to $152.8 billion
Walmart Inc. announced on Tuesday that its revenue in the third quarter of the fiscal year 2023 saw an annual rise of 8.7% to reach $152.8 billion, well above expectations. The company's operating income, on the other hand, declined by 53.5% compared to the same trimester the previous year to come in at $2.7 billion. Its net sales grew by 8.8% year-on-year to stand at $151.47 billion. Walmart also registered diluted losses per share of $0.66 per share, a worsening compared to diluted earnings per share (EPS) o $1.11 per share noted in the same quarter in 2022.
"We significantly improved our inventory position in Q3, and we'll continue to make progress as we end the year. [...] We're here to help make this [holiday season] an affordable and special time for families around the world," President and Chief Executive Officer (CEO) Doug McMillon commented.
Following the release of the report, Walmart's shares went up by 6.91% in premarket trading.