Walmart's Stock Rallies Toward a Record as Earnings Rose Above Expectations and the Outlook Was Raised

Walmart's shares rose as much as 3.4% to $152.58 in premarket trading

The company reported better-than-expected earnings per share of $1.71

Walmart's stock rose in premarket trading on Tuesday after the company reported better-than-expected earnings for the fiscal fourth quarter and raised its outlook for the year.

The company reported earnings per share of $1.71, which was above the consensus estimate of $1.69. Revenue also came in above expectations, rising 2.4% to $152.8 billion.

Walmart also raised its outlook for the year, saying it now expects earnings per share to be in the range of $5.90 to $6.05, up from its previous guidance of $5.75 to $5.90.

The strong results were driven by strength in the company's grocery and e-commerce businesses

The strong results were driven by strength in the company's grocery and e-commerce businesses. Grocery sales rose 2.6%, while e-commerce sales rose 17%. Comparable sales, a key metric for retailers, rose 2.4%.

Walmart's e-commerce business has been growing rapidly in recent years, and the company is now one of the largest online retailers in the United States.

The company is also benefiting from the current inflationary environment

Walmart is also benefiting from the current inflationary environment, as consumers are increasingly looking for ways to save money on groceries and other essential items.

The company's low prices and wide selection of products are appealing to consumers who are feeling the pinch of inflation.

Walmart's stock has been on a steady upward trend in recent years

Walmart's stock has been on a steady upward trend in recent years, as the company has continued to grow its business and improve its profitability.

The stock is now trading near its all-time high, and analysts believe it has further room to run.

Conclusion

Walmart's strong earnings report and raised outlook are a sign that the company is well-positioned for continued growth in the years to come. The company's strong grocery and e-commerce businesses, as well as its low prices, are appealing to consumers who are looking for ways to save money.