Walmart beats as online sales continue to surge

Walmart’s fourth-quarter earnings topped Wall Street estimates as online sales continued to surge.

The world’s largest retailer announced adjusted earnings of $US1.30 per share, edging out the $US1.29 that was expected. Revenue, excluding currency, ticked up 3.0% to $US133.6 billion.

Comparable-store sales, or sales at locations open at least a year, jumped 1.8%, easily surpassing the 1.3% gain that analysts were anticipating.

“We had a very solid fourth quarter with U.S. comp sales growth of 1.8 per cent and U.S. e-commerce GMV growth of 36 per cent,” Walmart President and CEO Doug McMillon said in the earnings release.

Walmart expects to earn $US0.90 to $US1.00 per share during the first quarter of 2017. The company raised its quarterly dividend to $US0.51 per share from $US0.50 per share.

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