Walmart posts better-than-expected Q3 results – shares move higher
16 November 2022Walmart Inc. (NYSE: WMT) announced its latest financial results before the market open in the US on Tuesday.
World’s largest supermarket chain reported total revenue of $152.8 billion for the quarter (up by 8.7% year-over-year) vs. $147.668 billion expected.
Earnings per share reported at $1.50 per share (up by 3.4% year-over-year) vs. $1.321 per share estimate.
”We had a good quarter with strong top-line growth globally led by Walmart and Sam’s Club U.S., along with Flipkart and Walmex. Walmart U.S. continued to gain market share in grocery, helped by unit growth in our food business. We significantly improved our inventory position in Q3, and we’ll continue to make progress as we end the year. From The Big Billion Days in India, through our Deals for Days events in the U.S. and a Thanksgiving meal that will cost the same as last year, we’re here to help make this an affordable and special time for families around the world. We have an amazing group of associates that make all this happen, and I want to say thank you,” President and CEO of Walmart, Doug McMillon said in a press release.
Walmart raised its full-year outlook after its strong Q3 results and announced a $20 billion share buyback program.
Shares of Walmart were up by 6.54% on Tuesday at $147.14 a share.
Stock performance
- 1 month: +10.69%
- 3 month: +54%
- Year-to-date: +62%
- 1 year: +71%
Walmart price targets
- Jefferies: $165
- Keybanc: $155
- Morgan Stanley: $150
- DA Davidson: $163
- Cowen & Co.: $165
- Stifel: $149
- Oppenheimer: $155
- Credit Suisse: $145
- Deutsche Bank: $162
- Citigroup: $162
Walmart is the 14th largest company in the world with a market cap of $402.87 billion.
You can trade Walmart Inc. (NYSE: WMT) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
Sources: Walmart Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap
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