Walmart rose 4.26% to $87.67 on the New York market after a robust third quarter and annual prospects for its staggered 2024-2025 financial year raised upwards for the third consecutive time. The American retail group reported adjusted quarterly profit of 58 cents per share, where the consensus was 53 cents per share, after 51 cents a year earlier. Its turnover was up 5.5% year-on-year, to $169.59 billion.
Sales on a like-for-like basis, i.e. in stores open for at least a year, grew by 5.3% across the Atlantic compared to a consensus of 3.8%.
“We had a solid quarter, continuing on our trajectory,” commented Doug McMillon, boss of the group, quoted in a press release.
In light of this quarterly publication, Bank of America reaffirms its Buy recommendation on Walmart “as market share gains continue and long-term profitability improves thanks to the growth of digital advertising” .
Walmart, which is banking on the strength of end-of-year purchases, expects consolidated net sales for fiscal 2025 to grow from 4.8% to 5.1%, compared to previous forecasts of 3.75% to 4 .75%.
The American firm also expects adjusted annual earnings per share to be between $2.42 and $2.47, compared to a previous forecast of $2.35 and $2.43.
