Walmart shares surge after earnings blow past estimates, online sales nearly doubled

Walmart Inc. WMT,
+ 2.26%
Shares jumped 5.5% on Tuesday before marketing after the retail giant reported second-quarter earnings and sales that exceeded Street’s estimates. Net income totaled $ 6.48 billion, or $ 2.27 per share, compared to $ 3.61 billion, or $ 1.26 per share, last year. Adjusted EPS of $ 1.56 was well above the FactSet consensus for $ 1.25. Revenue of $ 137.74 billion is up from $ 130.38 billion last year and ahead of the FactSet consensus of $ 135.57 billion. Comparable store sales in the United States increased 9.3% with general merchandise and food leading the way. E-commerce sales in the United States nearly doubled, up 97%. Sam’s Club sales for the quarter totaled $ 16.4 billion, with U.S. same-store sales excluding fuel increasing 13.3%. Walmart stock has gained 14.1% year-to-date while the Dow Jones Industrial Average DJIA,
-0.30%
fell by 2.4% over the period.