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Walmart just released its Q2 financial results.Earnings came in at $1.18 per share, which was barely higher than the $1.17 per share analysts were looking for.
However, revenue was a little light, coming in at $114.3 billion versus the expectation for $115.8 billion.
Total comparable store sales – excluding sales – were up 2.5 per cent.
We will update this post as the information comes in.
“Given continuing economic pressures, we believe that our price leadership and value are growing in importance to customers across income levels,” said CEO Mike Duke.
Walmart saw grow in its three segments:
- Walmart U.S. up 3.8% (2.2% comparable store sales)
- Walmart International up 6.4%
- Sam’s Club up 3.8% (4.2% comparable store sales excluding fuel)
Management raised full year earnings per share guidance to a range of $4.83 to $4.93, froma previous range of $4.72 to $4.92.
The world’s largest retailer gives a crucial read on the health of the consumer as well as the countless numbers of businesses who serve as vendors.
Bank of America Merrill Lynch analyst Robby Ohmes is a big fan of the stock. It’s “a cheap global consumer staple stock with no Euro exposure.”