Consumer ETFs In Focus On Wal-Mart Earnings Beat
Zacks Investment Research | Aug 18, 2017 08:51AM ET
Wal-Mart (NYSE:WMT) once again bucked weak trends in the retail sector, topping our earnings and revenue estimates when it reported second-quarter fiscal 2018 results. However, it guided lower for the ongoing fiscal quarter and fiscal year.
Q2 Results in Focus
Earnings per share came in at $1.08, beating both the Zacks Consensus Estimate and improving from the year-ago earnings by a penny. Revenues inched up 2.1% year over year to $123.4 billion and were ahead of our estimate of $122.7 billion.
E-commerce surge and strong grocery sales drove revenues in the quarter. Notably, e-commerce sales jumped 60% year over year. U.S. same store sales grew for the twelfth consecutive quarter, climbing 1.8% year over year with a 1.3% increase in traffic sales (read: Zacks Investment Research
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