Walmart on Thursday reported second-quarter earnings that topped expectations and raised its outlook for the full year, CNBC's CourtReagan reports.
on Thursday reported second-quarter earnings that topped expectations and raised its outlook for the full year, building on the momentum in its core U.S. business, online operations and investments in grocery.
Net income rose to $3.61 billion, or $1.26 per share, compared with a net loss of $861 million, or 29 cents a share, a year earlier. Excluding one-time items, Walmart earned $1.27 a share, 5 cents better than expectations. Walmart said e-commerce sales surged 37% during the quarter, matching growth during the prior quarter. And the company is still calling for U.S. e-commerce sales growth of 35% for the year, which would be slightly less than what it logged in fiscal 2019.
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