Walmart Crushes It This Holiday Season, smashing Wall Street’s expectations with a whopping 6% surge in quarterly revenue. Folks were flocking to Walmart for their holiday shopping fix, and their online sales went through the roof!
Big News: Walmart Snags Vizio
In a surprising twist, Walmart announced it’s snagging Vizio, the smart TV maker, for a cool $2.3 billion. This move is all about ramping up Walmart’s advertising game in the smart TV world—talk about a power play!
Customer Habits Are Shifting
According to John David Rainey, Walmart’s finance whiz, shoppers are getting choosier. They’re making more trips to Walmart but grabbing fewer goodies each time, especially the pricey stuff like electronics.
Money Talk
Walmart’s net income for the quarter dipped a bit to $5.49 billion, but hey, their revenue climbed to a massive $164.05 billion! Looking ahead, Walmart’s predicting sales to grow by 4% to 5% next quarter, with adjusted earnings of $1.48 to $1.56 per share.
Investors Are Pumped
After Walmart’s stellar results and the Vizio bombshell, investors are loving it! Walmart’s shares shot up 3% on Tuesday, and they’ve been killing it this year, outshining the S&P 500 by a mile.
E-Commerce Reigns Supreme
Walmart’s e-commerce game is on fire! Despite inflation woes, they’re drawing in shoppers from all walks of life. And their ads, third-party sales, and Walmart+ program? They’re cash cows!
Key Stats
Check this out—Walmart’s US sales rose by 4%, and Sam’s Club saw a 1.9% boost. But wait, there’s more—global e-commerce sales skyrocketed by a whopping 23% to over $100 billion! Talk about impressive numbers!
Playing the Price Game
Prices are all over the place, but Walmart’s own brands are stealing the show. CEO Doug McMillon mentioned that some prices are lower than last year, especially for general merchandise.
Profit Power Move
Walmart’s not just about selling stuff anymore—it’s about those high-profit ventures. With their third-party marketplace, delivery services, and ad business booming, they’re laughing all the way to the bank.
What’s Next?
With Vizio in their pocket, Walmart‘s ready for even more growth. They’re gearing up to change the advertising game with Vizio’s tech and gather some juicy customer data along the way.