Walmart Q3 earnings surge to USD3.3B, beating expectations

WASHINGTON (AFP) – Retail giant Walmart saw profits surge in the latest quarter on an explosion in online sales and a boost from Indian retailer Flipkart, according to results released yesterday.

Net income jumped more than 92 per cent to nearly USD3.3 billion in the three months ended on October 31 compared to the same quarter a year earlier, the company reported.

Total revenue rose 2.5 per cent or USD3.1 billion, to USD128 billion.

Walmart’s 2018 acquisition of India’s Flipkart has boosted international sales for the US retail giant. PHOTO: AFP