Walmart hikes FY guidance, Q3 earnings beat expectations

Retailer Walmart hiked its full-year guidance on Tuesday after Q3 earnings and revenue came in ahead of expectations.

Walmart now expects net sales to grow between 4.8% and 5.1% in FY24, up from previous forecasts of between 3.75% and 4.75%.

As far as Q3 was concerned, the Arkansas-based firm said net income increased to $4.58bn, up from $453.0m at the same time a year earlier, while revenue rose from $160.8bn to $169.59bn.

Same-store sales jumped 5.3% at Walmart, while US e-commerce sales surged 22%.

As of 1455 GMT, Walmart shares were up 3.09% at $87.14 each.

Reporting by Iain Gilbert at Sharecast.com