A man walks outside of a Walmart in China.
Tomohiro Ohsumi | Bloomberg | Getty Images
Walmart’s online shopping strategy is paying off in China, arguably one of the most developed e-commerce markets in the world.
The giant discount retailer reported Tuesday that net e-commerce sales in China grew 104% from a year ago in the three months ended July 31.
That’s a faster pace than the 97% growth posted for net e-commerce sales in the U.S. The company’s fiscal second-quarter results handily beat analyst estimates on both revenue and earnings per share.
The U.S. is still by far Walmart’s largest market, with net sales of $93.3 billion in the second quarter versus $27.2 billion for the rest of…