Walmart Surpasses $500 Billion Market Cap After Strong Q1 Results
By : Benzinga
Published On: 2024-05-17
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Walmart's stock price rose after it reported first-quarter earnings that beat analyst expectations, demonstrating consumer resilience in spending despite economic pressure. Walmart's market capitalization surpassed $500 billion for the first time following the strong earnings results. Walmart's CFO stated that consumers have remained consistent in spending from quarter to quarter, though budgets remain stretched. Upper-income consumers are increasingly shopping at Walmart. Analysts noted Walmart's increasing focus on higher-margin revenue streams like digital advertising, marketplace fees, and fulfillment services contributing to growth.
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