Walmart To Report 12.9% 2Q Growth

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Wall Street is bullish on Walmart and expects double-digit earnings growth of 12.9% when the retail giant reports its fiscal second quarter results on Thursday ahead of the market opening.

The consensus of 26 analysts peg net income at roughly $3.6 billion, or $1.22 per share. That compares to $3.269 billion or $1.08 per share in the year-ago quarter ending July 31. Revenue growth of 2.2% is expected with total sales of $126 billion for the three months ending July 31.

Ben Bienvenue, an analyst with Little Rock-based Stephens Inc,. expects second quarter earnings at $1.21 per share, just shy of the consensus. That said, Bienvenue believes solid results will push the stock price higher as “a broadly improving consumer backdrop coupled with continued improvements in-stores should sustain recent comp sales momentum in the U.S. market.”   MORE

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