Walmart 2022 Earnings Report Disclosed!
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Walmart reported on Tuesday that sales increased by over 9% in the third quarter of its fiscal year.
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The retailer outperformed Wall Street forecasts for the quarter, and as a result, it upgraded its outlook.
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In premarket trade, Walmart shares increased by more than 6%.
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Earnings per share for 3rd Quarter: $1.50 adjusted vs. $1.32 expected
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Revenue: $152.81 billion vs. $147.75 billion expected
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The discounter also made strides with a problem that plagues the entire sector: an abundance of excess inventory.
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Walmart US's comparable sales increased by 8.2% excluding fuel. That exceeded analysts' forecasts, which were for growth of 3.6%.
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Sales from Walmart clubs and stores that have been operating for at least a year, including remodels, moves, and expansions, are included in the key retail metric.