Walmart Earnings Slide Despite Strong E-commerce Growth
Walmart Inc (WMT) reported its quarterly earnings, revealing a GAAP EPS of $0.80, down 9.09% year-over-year.
The company's revenue reached $187.94 billion, a 5.94% increase from the same period last year.
Despite this dip in earnings per share, Walmart is optimistic about its future prospects, citing strong growth in e-commerce and advertising.
In fact, the company reported a 23% surge in global e-commerce sales and a 38% boost in its advertising business.