WalMart Inc reported better-than-expected third-quarter sales and earnings, but its raised full-year guidance disappointed investors, sending shares lower.
The hypermarket operator said sales rose 5.2% to $160.8 billion from $152.8 billion a year ago while adjusted EPS rose 2.0% to $1.53 from $1.50 - ahead of the $1.51 consensus.
Adjusted operating income climbed 3.0% to $6.2 billion from $6.0 billion with gross margins up 32 basis points.
Walmart said US like-flor-like sales rose 4.9% while eCommerce sales jumped 24%, led by pickup & delivery.
Looking ahead, the company raised its net sales guidance for the full year to 5.0% to 5.5% and forecast adjusted EPS of $6.40 to $6.48, with the Street consensus already hoping for a figure of $6.48.
“We had strong revenue growth across segments for the quarter, and we’re excited to get an early start to the holiday season,” said Doug McMillon, president and chief executive.
Shares were down 4.9% in pre-market trading.