Walmart jumps on earnings report

Source: Dukascopy Bank SA


The stock price of Walmart has surged due to the company announcing a beat of its quarterly financial result forecasts. The stock price has surged 7.17% or $4.92.

Earnings per share were forecast to be at $0.646. Actual earnings are $0.67. Meanwhile, total revenues were expected to be $168.565 billion. Released number is $169.335 billion.

The firm has managed to increase transaction amounts despite the retail sector experiencing a decline. It appears that consumers have flocked to Walmart for cheaper products.
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