from Financial Survival Network
Eddie Ghabour returns… Walmart jumped pre-market after the company reported Q3 EPS that beat expectations and boosted its year end earnings outlook. The largest US retailer reported Q3 adjusted EPS $1.16, stronger than the estimate of $1.09 and 8 cents higher than a year ago on revenue of $127.99 billion, slightly below the consensus est. of $128.67 billion which was a $3.1 billion or 2.5% increase from a year earlier.
Q3 adjusted EPS excluded a non-cash impairment charge of $0.06, net of tax, and an unrealized gain of $0.05, net of tax, on the company’s equity investment in JD.com.
While profit margins dipped modestly, down 36bps to 24.5%, the bottom line beat was largely due to the 5.4% drop in the effective tax rate, which declined to 24.1% in Q3.
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