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Walmart beats as online sales continue to surge
(Rob Walton, Walmart's board chairman, with Walmart e-commerce employees at the company's annual shareholders meeting in Fayetteville, Arkansas, in 2014.REUTERS/Rick Wilking )
Walmart's fourth-quarter earnings topped Wall Street estimates as online sales continued to surge.
The world's largest retailer on Tuesday announced adjusted earnings of $1.30 a share, edging out the $1.29 that was expected. Revenue, excluding currency, ticked up 3.0% to $133.6 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 US comp sales growth of 1.8% and US e-commerce GMV growth of 36%," Walmart president and CEO Doug McMillon said in the earnings release.
Walmart expects to earn $0.90 to $1.00 a share during the first quarter of 2017. The company raised its quarterly dividend to $0.51 a share from $0.50 a share.
Shares of Walmart are up 2.3% ahead of the opening bell.
(Markets Insider)
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