Football baseball basketball soccer hockey Walmart powers through 2Q

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The Associated Press

FILE – In this April 24, 2019, file photo a Walmart associate works at a Walmart Neighborhood market in Levittown, N.Y. Walmart Inc. reports financial results Thursday, Aug. 15. (AP Photo/Mark Lennihan, File)

Walmart is raising its annual outlook after the world’s largest retailer reported strong second-quarter results.

Stores opened at least a year rose 2.8%, its 20th consecutive quarter in the positive direction.

U.S. online sales increased 37%, driven by groceries.

Walmart Inc. on Thursday reported quarterly profit of $3.61 billion, or $1.26 per share, after reporting a loss in the same period a year earlier. Per-share earnings, adjusted for non-recurring costs, were $1.27. That’s a nickel better than Wall Street had expected, according to a survey by Zacks Investment Research.

Revenue was $130.38 billion.

Shares of Walmart Inc. are up 5% before the opening bell.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at https://www.zacks.com/ap/WMT

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