Walmart beats on earnings, raises guidance (WMT)

Walmart on Thursday reported second-quarter resultsthat topped expectations, and the company raised its full-year earnings outlook.The world'slargest retailer earned $1.07in adjusted earnings per share on revenue of $120.9billion, up 3.1%.Analysts had estimated that Walmart earned $1.02 in adjusted EPS, and revenue of $120.3 billion.Traffic to Walmart stores dipped a bit, butgave US locations open for at least one year an eighth straight quarter of positive sales, at 1.6%.The company now projects adjusted EPS for 2017 in a rangeof $4.15 to $4.35, up from $4 to $4.30 previously. This guidance includes a dilutive impact of about five cents in the fourth quarter because of losses related to the acquisition of Jet.com.Walmart recently announced it was buying Jet.com for $3 billion, a deal that would boost its ecommerce business totake on Amazon. At the time of the announcement,Walmart generated about $14 billion in annual e-commerce sales, versus Amazon's $99 billion in annual revenue."The distinctions that we talk about today between stores, apps, pick-up, delivery and sites are continuing to blur into the background for customers," said Walmart CEO Doug McMillon in a statement."For them, its just Walmart."Walmart's online sales rose 12% from the first quarter.Walmart shares gainedas much as 3.9% pre-market after the results crossed. They rallied19% this year through Wednesday's market close.SEE ALSO:Walmart is coming for AmazonJoin the conversation about this storyNOW WATCH: A peek inside the transparent culture of the company Walmart is buying for $3 billion
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