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Walmart raises earnings forecast for year after jump in quarterly sales

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Reuters
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Credit: REUTERS/Edgard Garrido

U.S. retailer Walmart Inc on Thursday reported an estimate-beating jump in second-quarter U.S. comparable sales, and boosted its earnings forecast for the year.

WASHINGTON, Aug 15 (Reuters) - U.S. retailer Walmart Inc WMT.N on Thursday reported an estimate-beating jump in second-quarter U.S. comparable sales, and boosted its earnings forecast for the year.

Sales at U.S. stores open at least a year rose 2.8%, excluding fuel, in the quarter ended July 31. Analysts estimated growth of 2.07%, according to IBES data from Refinitiv.

Adjusted earnings per share increased to $1.27 per share, beating expectations of $1.22 per share.

Online sales surged 37%, in line with the previous quarter's increase and higher than the company's expectation.

Total revenue was up 1.8% at $130.4 billion, beating analysts' estimates of $130.1 billion.

(Reporting by Nandita Bose in Washington; Editing by Bernadette Baum)

((nandita.bose@thomsonreuters.com; +12023545868; Reuters Messaging: nandita.bose.reuters.com@reuters.net))

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