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Walmart raised its annual forecast on Tuesday, citing increased discretionary spending, e-commerce growth, and an early start to holiday shopping. Third-quarter earnings beat Wall Street expectations, with revenue topping forecasts. E-commerce sales surged 22%, driven by home delivery and advertising growth. CFO John David Rainey noted inflationary pressures on consumers but highlighted their focus on value during the holiday season.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street. Walmart raised its annual forecast on Tuesday,
00:05citing increased discretionary spending, e-commerce growth, and an early start to
00:09holiday shopping. Third-quarter earnings beat Wall Street expectations with revenue-topping
00:13forecasts. E-commerce sales surged 22 percent, driven by home delivery and advertising growth.
00:20CFO John David Rainey noted that inflationary pressures on consumers,
00:24but highlighted their focus on value during the holiday season.
00:27For all things money, visit Benzinga.com slash GSTV.

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