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11/14/2019, 1:02 PM (Source: TeleTrader)
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Walmart's revenue up 2.5% to $128B in Q3

Walmart Inc. reported on Thursday that its revenue in the third quarter of fiscal 2020 amounted to $128 billion, marking a 2.5% increase compared to the same period a year ago. The retailer added its US comparative sales climbed by 6.6% and US eCommerce sales surged 41% year on year.

Diluted GAAP earnings per share (EPS) for the three-month soared 98% to $1.15, topping estimates, while GAAP net income was $3.2 billion. Operating income decreased 5.4% year on year to $4.7 billion.

"We're pleased with our performance for the quarter. Our associates are responding to change in an inspiring way, and we're proud of them," CEO Doug McMillon stated. "Looking ahead, we're prepared for a good holiday season. Our integrated offering with stores and eCommerce delivers value and convenience for our customers," he added.

Walmart shares jumped 3.48% in premarket trading on better-than-expected results and improved guidance for full fiscal 2020.

Breaking the News / NP