Walmart Inc. stock rose 2.6% in Tuesday premarket trading after the retail giant reported fiscal first-quarter earnings and sales that beat expectations. Net income totaled $2.73 billion, or 97 cents per share, compared with $3.99 billion, or $1.40 per share, last year. Adjusted EPS of $1.69 beat the FactSet consensus for $1.21. Revenue of $138.31 billion was up from $134.62 billion last year and ahead of the FactSet consensus for $132.16 billion. Walmart U.S. comp sales were up 6%, and up 16% on a two-year stack. Walmart U.S. comparable sales rose 6%, and digital sales were up 37%. “Every segment performed well, and we’re encouraged by traffic and grocery market share trends,” said Chief Executive Doug McMillon in a statement. For the full-year, Walmart is guiding for EPS growth in the high-single digits versus previous guidance for a slight decline, and Walmart U.S. comparable sales growth in the low-single digits, excluding fuel. The FactSet consensus is for EPS of $5.41, suggesting a 1.2% decline, and U.S. comp sales growth of 2%. Walmart stock has slipped 3.7% for the year to date while the Dow Jones Industrial Average is up 12.2% for the period.
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