Walmart reported second-quarter revenue of $141 billion this week. That’s up 2.4 percent over last year’s 2Q, pandemic-impacted $137.7 billion.
Net income of $4.28 billion, or $1.52 per share, was reported for the quarter, down from $6.48 billion, ($2.27 per share), from 2020.
Per-share earnings missed the average estimate of $1.56 from 27 analysts surveyed by Thomson Reuters. However, excluding net losses on equity investments, adjusted per-share earnings was $1.78.
Walmart’s shares closed Tuesday at $150.70, down 5 cents, or 0.03%, on the New York Stock Exchange. The stock has traded between $126.28 and $153.66 in the past year.
Walmart President and CEO Doug McMillon said the company’s global e-commerce sales were on track to hit $75 billion by the end of the year.
“We grew market share in U.S. grocery, added thousands of new sellers to our marketplace, rapidly grew advertising businesses around the world and we’re finding innovative ways to commercialize our data and build technology,” he said.
Walmart’s U.S. operations posted net sales of $98.2 billion, a 5.3 percent gain, with same-store sales rising 5.2 percent compared to last year. E-commerce sales, which grew 97 percent in the second quarter of 2020, saw a 6 percent boost. Walmart International saw sales growth in India, Mexico and China, but overall its net sales fell by 15.2 percent to $23 billion with e-commerce making up 19 percent of international net sales.
Sam’s Club 2Q net sales were up 13.9 percent to $18.6 billion; its same-store sales grew 7.7 percent; e-commerce net sales at sam’s rose 27 percent; and membership income grew by 12.2 percent to hit a new record for the number of Sam’s Club members.