Walmart Releases Q1 and FY24 Earnings

Walmart Inc. (NYSE: WMT) announces first quarter results, including strong revenue and operating income growth of 7.6% and 17.3%, respectively. Operating expense leverage, along with progress from the Company’s connected value streams, including advertising, helps deliver operating margin expansion. The Company sees strong comp sales globally, including 7.4%3 for Walmart U.S., as its omnichannel model continues to resonate with customers and members.

First Quarter Highlights
•Consolidated revenue of $152.3 billion, up 7.6%, or 7.7% in constant currency (“cc”)1
•Consolidated gross margin rate declines 18 basis points on mix of sales
•Consolidated operating expenses as a percentage of net sales down 58 basis points
•Walmart U.S. comp sales up 7.4%3; eCommerce up 27%, led by pickup & delivery
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