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Walmart revenue soars on strength of online sales

Photo: Jeff Chiu / AP

The reigning heavyweight champion of brick-and-mortar retail is making a name for itself in e-commerce, with Walmart announcing that online sales grew 50% in the third quarter, powering the company's revenue past analyst expectations.

Why it matters: Acquisitions of e-commerce upstarts like Jet.com, Modcloth, and Bonobos have helped supercharge online growth, but Walmart.com is also benefiting from innovations like free two-day delivery on orders more than $35 and curbside pick-up.