Walmart (WMT) shares are up on Thursday, helped by the company’s better-than-expected first-quarter profits, which showed that consumers are still willing to spend despite tightening household budgets. Following its earnings announcement, Walmart’s market value also crossed the $500 billion threshold.
Walmart’s market worth surpassed $500 billion for the first time as a result of the retailer’s shares increasing after its first-quarter earnings wowed Wall Street.
Additionally, John David Rainey, the CFO of Walmart, discussed the quarter and what it means for consumers when he appeared on the morning brief earlier today.
The customer has been largely reliable. We are what everyone is trying to find. They’ve been quite steady from quarter to quarter here, but if there’s something, we should be more conscious of it. Wallets are nevertheless strained, as can be observed. Cash reserves remain depleted.
However, because their wallets are getting tighter, these people are now frequenting Walmart. And it appears that the quarter was marked by individuals sort of trading down to Walmart, which was to its advantage.
Yes, Julie, I agree that it was fascinating as well. I find it fascinating that the emphasis is being placed on these more recent, better margin revenue streams.
Kind of the main point we made was that we meant digital advertising, marketplace fees, and fulfillment services when we mentioned that. You also saw it in this print, where the business mentioned that a large portion of its current growth is coming from what I believe you would term non-core retail industry.
As an investor in Walmart, you are naturally drawn to the company’s higher margin services and growth, and you wager that this will only increase in proportion to the entire pie. Yes.
And a larger portion of the pie went to e-commerce. You already know which quarter’s number most impressed me. For Walmart.com, the firm Um sent 4.4 billion goods for same-day or next-day delivery. That’s over the last 12 months, according to the company, and if you compare that to what Amazon claimed, 4 billion things.
