Shares of retail giant Walmart (NASDAQ:WMT) are soaring in the pre-market session today on the back of its third-quarter showing.
Revenue rose 8.8% year-over-year to $152.8 billion, comfortably beating estimates by $6 billion.
EPS at $1.50 too, surpassed expectations by $0.18. The company continues to see growth across Walmart U.S., Sam’s Club U.S., Flipkart as well as Walmex.
While Walmart’s total U.S. comparable sales increased by 8.2%, average ticket size increased by 6%. Additionally, the company is also improving its inventory position and making gains in the grocery market.
The company now expects net sales to grow by about 5.5% for the full year. EPS though is expected to see a drop in the range of 6% to 7%.
Separately, Walmart has proposed to pay $3.1 billion to settle lawsuits related to the sale of opioids at its pharmacies.
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