Walmart.com reported a revenue of $138.3 billion in Q122, up 2.7% from the comparable quarter of last fiscal year, according to the company’s press release. Quarter revenue was adversely affected by about $4.2 billion divestitures in Walmart International.
Walmart U.S comp sales rose 6.0% with groceries recording market share gains.
E-commerce sales in the U.S rose 37% with all channels recording strong results.
U.S e-commerce sales contributed to about 360 basis points increase in comp sales.
Walmart’s Sam’s Club comp sales jumped 7.2% while e-Commerce sales were up 47%.
Sam’s Club membership income surged 12.7% as member count hit an all-time high.
Walmart recorded an 8.3% slump in International net sales which reached $27.3 billion while, equivalent e-commerce sales gained 49%.
Walmart’s overall consolidated operating income was $6.9 billion, up 32.3% and adjusted EPS of $1.69 in the first quarter.
Walmart now expects operating income in FY22 to increase in mid-single-digits in constant currency, up from prior outlook of slight decline in constant currency.
Operating income in Q2 is expected to decline in low-to-mid single-digits but up slightly from previous guidance.
Walmart stock is currently gaining. WMT: NYSE is up 3.39% on premarket.
