Retail

Walmart (WMT) earnings Q2 2022 beat estimates

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A shopper wearing a protective mask shops in a Walmart store on May 18, 2021 in Hallandale Beach, Florida.

Joe Raedle | Getty Images

Walmart on Tuesday reported second-quarter earnings that exceeded Wall Street expectations as the retail giant gained ground in groceries and had a strong start to the back-to-school season.

Shares are down about 1% in premarket trading.

The discounter also sharpened its forecast for the year, saying it now anticipates that earnings per share will range from $6.20 to $6.35. It said it expects Walmart U.S. same-store sales to increase by 5% to 6%, excluding fuel.

Chief Financial Officer Brett Biggs said in an interview with CNBC that customers flocked to stores…



Source cnbc.com

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