Stories

Walmart stock soars on earnings

Walmart shares climbed more than 8% on Thursday morning — representing more than $24 billion in added market value — after reporting third quarter profit and sales that were much higher than expected.

Why it matters: While Walmart reported 50% growth in e-commerce sales, the overall $123 billion in revenue is a reminder that retailers with large physical presence can still compete with Amazon. It's also the ninth straight quarter that Walmart has beat Wall Street analyst estimates.

Data: Money.net; Chart: Axios Visuals