Walmart Inc. announced on Thursday that its revenue in the second quarter of the fiscal year 2024 saw an annual increase of 5.7% to reach $161.6 billion. Its net sales in the United States advanced by 5.4% compared to the same trimester in 2023 to hit $110.9 billion. The franchise's consolidated net income rose by 53.3% on an annual basis to come in at $7.89 billion. Meanwhile, its diluted earnings per share (EPS) jumped by 55.3% to stand at $2.92 per share.
"Food is a strength, but we’re also encouraged by our results in general merchandise versus our expectations when we started the quarter," President and Chief Executive Officer (CEO) Doug McMillon commented. "We're in good shape with inventory, and we like our position for the back half of the year."
Following the release of the report, Walmart's shares grew by 0.92% in premarket trading.
