- Walmart reported third-quarter earnings that were above Wall Street’s expectations.
- Shares jumped by about 4.4% after the results.
- Walmart raised its adjusted earnings per share guidance for 2018.
- Watch Walmart’s stock price move in real time.
Walmart shares are up 4.78% at $94.12 after the company’s third-quarter earnings report.
The company reported adjusted earnings of $1 per share on revenue of $123.18 billion. Wall Street was expecting earnings of $0.98 and revenue of $121 billion.
Walmart’s efforts to fight back against Amazon are working, as revenue from the company’s e-commerce platform jumped 50% year-over-year. Walmart has been adding new perks and options for its online shoppers, including automated in-store pickup and faster returns.
The brick-and-mortar business is performing well too. Walmart reported a same-store sales growth of 2.7% versus the same period last year, which is the 13th-straight quarter of gains.
The company raised its full year 2018 earnings per share guidance to between $4.38 and $4.46, up from $4.30 – $4.40.
Walmart shares are up 36.62% this year.