(AOF) – Walmart fell 1.01% to 157.65 dollars on the New York Stock Exchange. For its second fiscal quarter, which ended at the end of July, the American supermarket chain posted a record net profit of 7.90 billion dollars, registering a jump of 53.3% compared to the same period of the previous year. Adjusted earnings per share were $1.84, compared to a consensus of $1.71. Operating profit for the quarter ended rose 6.7% to $7.32 billion. Consolidated sales were $161.6 billion, up 5.7%.
The distributor has revised upwards its forecasts for its staggered 2024 financial year in view of the performance achieved in the second quarter ended at the end of July, during which its sales increased by 5.7% over one year. In particular, the group expects annual revenue growth of around 4 to 4.5%.
Walmart also expects consolidated operating income to rise by around 7-7.5% and adjusted earnings per share of between 6.36 and 6.46 dollars.
In the third quarter, it is aiming for a 3% increase in its turnover and an increase of almost 1% in its operating income and an adjusted EPS of between 1.45 and 1.5 dollars.
“Food is a strong point, but we are also encouraged by our results in general merchandise compared to our expectations at the start of the quarter. We are well positioned on inventory and we like our position for the second half of the year,” CEO Doug McMillon said in a statement.
Yesterday, competitor Target said it beat quarterly profit estimates while lowering its annual targets.
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