Walmart Stock Jumps: What's Going On?

Walmart Inc WMT shares are trading higher Tuesday after the company reported better-than-expected financial results and raised its outlook.

Walmart said third-quarter revenue increased 8.7% year-over-year to $152.8 billion, which beat average analyst estimates of $147.51 billion, according to Benzinga Pro. The company posted quarterly adjusted earnings of $1.50 per share, which beat average estimates of $1.32 per share.

U.S. comparable sales grew 8.2% year-over-year, while e-commerce sales increased 16%.

“We had a good quarter with strong top-line growth globally led by Walmart and Sam’s Club U.S., along with Flipkart and Walmex. Walmart U.S. continued to gain market share in grocery, helped by unit growth in our food business. We significantly improved our inventory position in Q3, and we’ll continue to make progress as we end the year," said Doug McMillion, president and CEO of Walmart.

Walmart expects fourth-quarter consolidated net sales growth of approximately 3%. The company anticipates an adjusted earnings per share decline between 3% and 5%. 

Full-year net sales growth is expected to come in around 5.5%. Walmart expects a full-year adjusted earnings per share decline between 5% and 6%. 

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WMT Price Action: Walmart has a 52-week high of $160.77 and a 52-week low of $117.27.

The stock was up 7.11% at $148.23 at time of publication.

Photo: courtesy of Walmart.