On the floor of the New York Stock Exchange, Jim Cramer discusses Walmart's earnings beat with TheStreet's Katherine Ross.
"They've got the right merchandise, right supply chain, but also plus 40 percent on the e-commerce, which is really incredible. And a lot of food, which means that Amazon really can't compete with them. They've settled in," said Cramer.
Walmart posted stronger-than-expected third quarter earnings Thursday, and boosted its full-year profit guidance as e-commerce and grocery sales at the world's biggest retailer continue to surge.
Walmart said adjusted earnings for the three months ending in October came in at $1.16 per share, up 7.4% from the same period last year and firmly ahead of the Street consensus forecast of $1.09 per share. Group revenues, Walmart said, rose 2.5% from last year to $127.991 billion, but came just shy of analysts' estimates of a $128.636 billion tally.
U.S. same-store sales rose 3.2%, Walmart said, topping Street forecasts and notching the fifth consecutive year of comparable store gains. E-Commerce sales, the group said, rose 41%, well ahead of the 35% gain expected by analyst that follow the company. Walmart also said fiscal 2020 earnings would likely increase "slightly" from the previous year, an upgrade from its prior forecast of either a modest gain or a modest decline.
For more of Jim Cramer's take on Walmart, watch the video above.
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