Wal-Mart ETFs To Buy On Blockbuster Q3 Results
Zacks Investment Research | Nov 16, 2017 09:40PM ET
Wal-Mart (NYSE:WMT) reported blockbuster third-quarter fiscal 2018 results. The mega retailer continued its long streak of positive earnings surprise as it beat estimates for the ninth consecutive quarter. It also topped revenue estimates and offered an upbeat guidance for the holiday quarter and the fiscal year.
Per Bespoke Investment Group, this is only the second time since 2001 when Wal-Mart came up with the combination of an earnings and revenue beat as well as an encouraging outlook.
Q3 Results in Focus
Earnings per share came in at $1.00, beating the Zacks Consensus Estimate by 3 cents and improving from the year-ago earnings of 98 cents. Revenues increased 4.2% year over year to $123.2 billion and were ahead of the consensus mark of $121 billion.
The company recorded the highest quarterly U.S. sales growth in nearly a decade driven by e-commerce surge and rising U.S. same-store sales. U.S. same store sales grew for the thirteenth consecutive quarter, climbing 2.7% year over year with a 1.5% increase in traffic sales. U.S. e-commerce sales jumped 50% (read: Original post
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