Walmart beat estimates on the top and bottom lines, with overall revenue up 6% to $161.5 billion. Comparable sales rose 3.8% at the core segment, driving a 10% increase in operating income to $5.5 billion.
In the international segment, operating income jumped 31.7% to $1.5 billion, and Sam's Club saw operating income up by 34.3%. Gross margin rose, inventory controlled, and e-commerce jumped 21%.
Adjusted earnings per share surged from $0.49 to $0.60, exceeding the analyst consensus. Walmart's success stems from economies of scale, low prices, consumer staples, and growth in advertising and e-commerce.
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