Walmart Posts Q2 Beat and Raises Full-Year Outlook

Walmart reported second-quarter results before the bell Thursday, extending its streak of revenue beats to 26 straight quarters and raising its full-year guidance. Analysts had projected earnings near the top of management's $0.72 to $0.74 range, and the retailer's return to its beat-and-raise playbook was led by strong digital sales.

Operating income grew faster than revenue, in line with guidance for 7% to 10% adjusted operating income growth against 4% to 5% net sales growth. High-margin businesses including advertising and third-party marketplace operations continued to do the heavy lifting, while tariff refunds received in the quarter are being reinvested into pricing in the back half.

The report was the most closely watched of this week's retail earnings after Home Depot's beat on Tuesday, with investors reading Walmart's results as a gauge of consumer health heading into the fall.