Walmart Inc. (NYSE: WMT) released its fiscal first-quarter financial results before the markets opened on Thursday. The company said that it had $1.13 in earnings per share (EPS) and $123.93 billion in revenue, which compares with consensus estimates of $1.02 in EPS and revenue of $124.98 billion. The same period of last year reportedly had EPS of $1.14 on $122.69 billion in revenue.
During the latest quarter, Walmart U.S. comparable sales increased by 3.4% and marked the best first-quarter comps in nine years. Not to mention, this is the fourth consecutive quarter above 3%. Sam’s Club comparable sales increased 0.3%.
Walmart U.S. eCommerce sales grew 37%, reflecting strong growth in online grocery, as well as the Home and Fashion categories. Sam’s Club eCommerce sales grew about 28%.
The company offered no guidance in the report. However, the consensus estimates call for $1.22 in EPS and $130.54 billion in revenue for the fiscal second quarter.
Doug McMillon, president and CEO of Walmart, commented:
We’re changing to enable more innovation, speed and productivity, and we’re seeing it in our results. We’re especially pleased with the combination of comparable sales growth from stores and eCommerce in the U.S. Our team is demonstrating an ability to serve customers today while building new capabilities for the future, and I want to thank them for a strong start to the year.
Shares of Walmart closed Wednesday at $99.88, in a 52-week range of $81.78 to $106.21. The consensus price target is $108.47. Following the announcement, the stock was up about 2% at $101.88 in early trading indications Thursday.