Walmart said adjusted earnings for the three months ending in October came in at $1.34 per share, up 15.5% from the same period last year and well ahead of the Street consensus forecast of $1.18 per share. Group revenues, Walmart said, rose 5.2% from last year to $134.7 billion, again beating analysts' estimates of a $132.2 billion tally.
"This was another strong quarter on the top and bottom line. Our associates continue to impress during this challenging year," said CEO Doug McMillon. "They are working together to serve customers and communities in new, relevant ways and we’re very proud of them. We think these new customer behaviors will largely persist and we’re well-positioned to serve customers with the value and experience they’re looking for. ”
Jim Cramer has some thoughts on Walmart.