Walmart on Thursday reported second-quarter earnings that topped expectations, and the company raised its full-year earnings outlook.
The world’s largest retailer earned $1.07 in adjusted earnings per share on revenue of $120.9 billion.
Analysts had estimated that Walmart earned $1.02 in adjusted EPS, and revenue of $120.3 billion.
Walmart recently announced it was buying Jet.com for $3 billion, a deal that would boost its ecommerce business and take on Amazon. At the time of the announcement, Walmart had generated about $14 billion in annual e-commerce sales, versus Amazon’s $99 billion in annual revenue.
The company now projects adjusted EPS for 2017 in a range of $4.15 to $4.35, up from $4 to $4.30 previously.
Walmart’s shares gained 19% this year through Wednesday’s market close.