Share of Walmart Inc. (WMT) are up $3 in pre-market trading today.
All after posting first-quarter earnings that topped analysts’ expectations. Better, the company noted that it’s in a “good position” to now achieve full-year 2019 goals. EPS came in at $1.13 a share, 11 cents above $1.02 expectations.
Revenue of $123.93 billion beat estimates for $125.03 billion.
Also, U.S. same-store sales were up 3.4%, as compared to expectations for 3.3% growth. That marks the company’s best first quarter comp in nine years and is the fourth consecutive quarter where same store sales were above 3%.
E-commerce sales grew 37%, boosted by its home and fashion businesses.
That was better than online sales growth of 33% a year earlier, but moderated from a 43% increase during the holiday quarter.
Also, net income came in at $3.84 billion, or $1.33 a share, as compared to $2.13 billion, or 72 cents posted a year earlier. Excluding one-time charges, including unrealized gains and losses related to Walmart’s investment in JD.com, Walmart earned $1.13 a share, 11 cents ahead of analysts’ expectations.
However, total revenues grew about 1% to $123.93 billion from $122.69 billion, falling short of expectations for $125.03 billion. Net sales in the U.S. climbed 3.3%, while Sam’s Club sales were up 1.5%, but international sales tumbled 4.9%.
“We’re changing to enable more innovation, speed and productivity, and we’re seeing it in our results. We’re especially pleased with the combination of comparable sales growth from stores and eCommerce in the U.S. Our team is demonstrating an ability to serve customers today while building new capabilities for the future, and I want to thank them for a strong start to the year,” noted President and CEO, Doug McMillon.