With strong earnings, Walmart continues its battle with Amazon
Walmart reported earnings and sales that beat expectations for the second quarter this year, with e-commerce sales growing for U.S. stores 60%, per a Walmart press release. Revenue was at $123.36 billion compared to an estimated $122.84 billion. Earnings were at $1.08 a share.
Why it matters: Walmart is largely avoiding the struggles hitting the rest of the industry — its size and scale enable it to compete on price with Amazon.