Walmart has announced its first-quarter 2021 earnings—and there’s some good news for investors. The company handily beat Wall Street’s revenue and earnings per share (EPS) consensus estimates, reports Yahoo Finance. Analysts had been expecting $131.97 billion in Q1 revenue, but Walmart took in $6.34 billion above those estimates. As for EPS, analysts expected $1.22 per share, while Walmart actually generated $1.69 per share.
Here are the major highlights from Walmart’s Q1 2021 report:
- Total revenue: $138.3 billion, an increase of $3.7 billion, or 2.7% YOY
- Adjusted EPS: $1.69
- Operating income: $6.9 billion
- 37% growth in U.S. Walmart e-commerce sales
- 47% growth in U.S. Sam’s Club e-commerce sales
- 49% growth in Walmart International e-commerce sales
As you can tell from the above figures, Walmart saw a significant boost in e-commerce sales across its various outlets. That boost is no doubt due in part to the continued COVID-19 pandemic, which has seen more people turn to online shopping than ever before.
Though Walmart didn’t address the third round of stimulus checks the Biden administration sent out in March, it will be interesting to see if the company attributes its better-than-expected results to those checks. In May 2020, Walmart CEO John Furner noted that, “definitely we do see a positive impact from the [first round of stimulus] checks.”