Walmart Inc (NYSE: WMT) is trading higher Tuesday morning after the company reported better-than-expected earnings and revenue and increased its guidance.
What Happened: Walmart reported quarterly earnings of $1.69 per share, which beat the average estimate of $1.21 per share.
The company reported quarterly revenue of $138.3 billion, which beat the average estimate of $131.95 billion. Walmart announced that it now expects its annual earnings per share to increase by the high single digits, which is up from the slight decline the retailer earlier expected.
“This was a strong quarter. Every segment performed well and we’re encouraged by traffic and grocery market share trends. Our optimism is higher than it was at the beginning of the year,” said Doug McMillan, president and CEO of Walmart.
Related Link: A Peek Into The Markets: US Stock Futures Up Ahead Of Walmart, Home Depot Earnings
WMT Price Action: Walmart traded as high as $153.65 and as low as $117.01 over a 52-week period.
At last check Tuesday, the stock was up 4.15% at $144.65 in the premarket session.
Photo courtesy of Walmart.
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