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U.S. retailer Walmart Inc on Thursday reported an estimate-beating jump in first-quarter U.S. comparable sales, but overall revenue growth and online sales slowed.
Sales at U.S. stores open at least a year rose 3.4 percent, excluding fuel, in the quarter ended April 30. Analysts estimated growth of 3.1 percent, according to IBES data from Refinitiv.
Adjusted earnings per share increased to $1.13 per share, beating expectations of $1.02 per share.
Online sales rose 37 percent, compared with the previous quarter’s 43 percent increase.
Total revenue was up 1 percent at $123.9 billion but lower than analysts’ estimates of $125.03 billion.
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Timothy Davis
