Walmart US eCommerce Sales Surge 97%

August 18, 2020

The company’s net sales and operating results were significantly affected by a continuation of the global health crisis. Increased demand for products across multiple categories led to strong top-line and gross margin results.

Walmart U.S. eCommerce sales grew 97% with strong results across all channels.

Total revenue was $137.7 billion, an increase of $7.4 billion, or 5.6% with only $135.48 billion expected. Excluding currency, total revenue would have increased 7.5% to reach $140.2 billion.

Earnings per share came in at $1.56 adjusted, with. $1.25 expected. Walmart also noted net income rose to $6.48 billion, or $2.27 per share, from $3.61 billion, or $1.26 per share, a year earlier.

Doug McMillon President and CEO, Walmart said, “I want to give a big thank you to our associates for their tireless efforts during these unprecedented times. We also appreciate the trust and confidence of our customers. We remain focused on serving them well now and expanding our set of global capabilities to serve them well in the future.”

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