Walmart (NYSE:WMT) reported mixed third-quarter earnings on Thursday as profit beat consensus but revenue settled below analysts' estimates.
The firm reported earnings per share of $1.08 on revenue of $124.9 billion. Analysts polled by forecast EPS of $1.01 on revenue of $125.39 billion.
“We have momentum in the business as we execute our plan and benefit from a favorable economic environment in the U.S.,” Walmart chief executive and president Doug McMillon said in a press release. "We're making shopping at Walmart faster and easier.”
At 7:27 AM ET (12:27 GMT), Walmart stock (NYSE:WMT) gained 0.61% to $102.20. As of Wednesday’s close, shares were up 2.82% year-to-date, outperforming the Dow 30 which is up 1.09% so far this year.
Walmart follows other major services sector earnings this month
On October 25, Amazon.com reported third quarter EPS of $5.75 on revenue of $56.58 billion, compared to forecasts of EPS of $3.08 on revenue of $57.11 billion.
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