On Tuesday, Walmart announced its fiscal third quarter results as the retail giant promotes its ongoing Black Friday and Cyber Monday holiday shopping events next week.
The company reported revenue of $169.59 billion for the period, which beat analysts’ expectation of $167.72 billion, according to LSEG consensus estimates. Additionally, Walmart reported earnings per share of 58 cents, adjusted, compared with the 53 cents analysts’ predicted.
Notably, the company appears to be optimistic heading into the holiday spending season and says Walmart customers have been purchasing more general merchandise outside of groceries.
“In the U.S., in-store volumes grew, pickup from store grew faster, and delivery from store grew even faster than that,” Doug McMillon, Walmart president and CEO, said in a Nov. 19 press release. “Our teams are executing and delighting our customers and members with the value and convenience they expect from Walmart.”
Walmart now forecasts that net sales will grow between 4.8% and 5.1% for the full year, compared with the previously forecasted growth of 3.75% to 4.75%.
The retailer’s share price has increased by nearly 60% since the beginning of the year as of market close on Nov. 18.
How much an investment in Walmart would be worth now
By sales volume, Walmart is the largest retailer in the U.S., according to the National Retail Federation. In 2023, it raked in just over $635 billion in worldwide retail sales.
Walmart first allowed the public to purchase common stock in October 1970 for $16.50 per share and began trading on the New York Stock Exchange two years later on August 25, 1972.
Since then, Walmart’s share price has soared substantially. The company’s stocks were priced at $84.08 per share as of market close on Nov. 18.
CNBC calculated how much a $1,000 investment in Walmart made one, five or 10 years ago, as well as when the company went public 54 years ago, would be worth today. The calculations are based on Walmart’s Nov. 18 closing price and don’t account for possible changes in price following the company’s most recent quarterly earnings report.
If you invested one year ago
- Percentage change: 64%
- Total as of Nov. 18: $1,639
If you invested five years ago
- Percentage change: 119%
- Total as of Nov. 18: $2,191
If you invested 10 years ago
- Percentage change: 227%
- Total as of Nov. 18: $3,266
If you invested when Walmart went public in October 1970
- Percentage change: 1,788,465%
- Total as of Nov. 18: $17,885,648
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