Walmart earnings beat as investments fuel sales growth, retailer in 'good position' to hit 2019 goals
CNBC - Thu 16 May 13:18 GMT

Walmart has been pouring money into new technology that helps it more speedily fulfill online orders and grow its massive grocery business.

Walmart earnings beat as investments fuel sales growth, retailer in 'good position' to hit 2019 goals

  Here's what Walmart reported compared with what analysts were expecting, based on Refinitiv data: * Earnings per share: $1.13, adjusted, vs. $1.02 expected * Revenue: $123.93 billion vs. $125.03 billion expected * U.S. same-store sales: growth of 3.4% vs. increase of 3.3% expected Walmart has been pouring money into new technology that helps it fulfill online orders faster, grow its massive grocery business, stock shelves with merchandise and even train its employees.

  E-commerce sales grew 37%, boosted by its home and fashion businesses, Walmart said.

  Net sales in the U.S. climbed 3.3%, while Sam's Club sales were up 1.5%, but international sales tumbled 4.9%, Walmart said.

  Sales at Walmart stores in the U.S. open for at least 12 months were up 3.4%, the best growth of that metric during the first quarter in nine years, Walmart said.

  Analysts were calling for same-store sales growth of 1.6% for Walmart's wholesale unit that rivals Costco.