Walmart beats on earnings and sales

August 18, 2016 12:05 PM

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At a time when many of its peers are struggling, Walmart posted better than expected quarterly results on Thursday, thanks to stronger sales and more customers, and raised its guidance for the full year.

The world's biggest retailer reported revenue of $120.9 billion in the second quarter, surpassing analysts' projection of $119.3 billion, and a 0.5% uptick over that three month period last year. And net income jumped 8.6%, to $3.8 billion from $3.5 billion in the comparable quarter.

Also read: U.S. Existing Home Sales Fell in April

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