Walmart Inc (NYSE:WMT, ETR:WMT) shares headed over 3% higher in pre-market trading on Tuesday after the discounter hiked guidance on better-than-expected third-quarter results.
Revenue ticked up 5.5% to $169.6 billion over the three months to October, aiding a 13.7% increase in adjusted per-share earnings to $0.58, Walmart reported on Tuesday.
Analysts had been expecting revenue of $167.72 billion and earnings of $0.53 a share.
Walmart noted the uptick was fueled by growth in food and consumables sales, alongside of general merchandise goods for the second consecutive quarter, after 11 successive declines previously.
“Our associates are working hard to save people time and money and to transform our business,” chief executive Doug McMillon commented.
“In the US, in-store volumes grew, pickup from stores grew faster, and delivery from stores grew even faster than that.
“Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart.”
Guidance was laid out for net sales to climb by as much as 5.1% over the full year, against the 4.75% expected previously.
Shares climbed 3.5% to $87.06 ahead of trading on Tuesday.