Walmart posted first-quarter results that exceeded sales and earnings expectations as the e-commerce business rebounded.
"Online grocery continued to accelerate and [we] We also have new brands in e-commerce, including partnering with Lord and Taylor, so there are a lot of different things that drive growth there, "said Brett Biggs, chief financial officer interview with CNBC.
In the quarter ended April 30, Walmart said net income dropped from $ 3.04 billion or $ 1.00 a share a year ago to $ 2.13 billion, or 72 cents a share.
On a restated basis, Walmart earned $ 1.14 a share, beating Thomson Reuters' expectations of $ 1.12 per share.
Sales increased 4.4 percent to $ 122.69 billion, surpassing estimates of $ 120.51 billion.
Walmart has changed its online version of the grocery store and the re-establishment of its stores to the online To adjust delivery. It has recently redesigned its website and said yesterday that its new "Store in a Business" partnership with Lord & Taylor will start in stages in the coming weeks.
Walmart is meanwhile an international transformation, announcing two offers last month.
It plans to partially sell its stake in British grocer Asda by amalgamating its dealings with its colleague J. Sainsbury, it said in April.
"We have made a series of announcements of strategic moves that we believe will strengthen our position. The world, Q1 is a good example of why we can – we are in a great financial position and that underlying business was very strong, "said Biggs.
Earlier this month, there was a $ 16 billion acquisition of Indian ecommerce giant Flipkart. The announcement triggered a sell-off of Walmart shares, probably due to the high ticket price.
Walmart said its Flipkart investment will reduce earnings per share for fiscal 2019 by about 25 cents to 30 cents when the transaction closes at the end of the second quarter
Recently, arrangements were also made to sell banking business in Walmart Canada and Walmart Chile met, it said on Thursday.