People walk near the entrance to a Walmart store on May 14, 2024 in Miami, Florida. Walmart announced that it will eliminate several hundred corporate jobs and relocate most of its remaining remote office staff. Joe Raedle/Getty Images
Walmart has announced strong financial results for this second quarter, surpassing sales expectations and raising its earnings forecast. To be specific, Yahoo Finance reported that the retail giant's revenue reached $169.34 billion, exceeding analysts' projections of $168.46 billion, which is a 4.8% increase from the same period last year.
Adjusted earnings per share also exceeded estimates, climbing to $0.67, which is a 9.8% year-over-year increase.
The company's CEO, Doug McMillon, attributed the strong performance to growth across business segments. This includes gains in store and club sales, eCommerce, and a massive 26% growth in its global advertising business. The rise in online marketplace sales and the expansion of its membership model have also contributed to the retailer's solid financial performance.
Walmart's US operations saw same-store sales increase by 4.3%, with its core Walmart business growing by 4.2% and Sam's Club experiencing a 5.2% boost. The retailer's focus on groceries, which account for approximately 60% of its U.S. sales, has driven increased foot traffic and higher ticket sizes.
The introduction of its private label brand, Bettergoods, offering high-quality, affordable products, has further strengthened its position in the grocery sector.
Internationally, Walmart's sales grew by 7.1%, driven by an expansion in store count and a boost in its online business. The company has updated its fiscal 2025 outlook, projecting sales growth between 3.75% and 4.75%, and adjusted earnings per share between $2.35 and $2.43.
Join the Conversation