Nvidia Might Be the Story of the Moment—But Walmart Stock Is Rising Even More Today

Core Insights - Walmart reported strong quarterly results, exceeding Wall Street expectations and raising its full-year outlook for sales and adjusted EPS [1][8] Financial Performance - In Q3 of fiscal year 2026, Walmart earned an adjusted $0.62 per share, surpassing analyst consensus by 2 cents [2] - Revenue increased by 5.8% year-over-year to $179.5 billion, which is $2 billion above analyst forecasts [2] - Comparable sales rose by 4.2%, slightly above analyst estimates, while e-commerce sales surged by 27% and advertising revenue grew by 53% [2] Outlook - Walmart raised its full-year revenue growth forecast to 4.8% to 5.1%, up from a previous range of 3.75% to 4.75% [3] - Adjusted EPS is now projected to be between $2.58 and $2.63, a slight increase from the prior range of $2.52 to $2.62 [3] Market Reaction - Following the earnings report, Walmart shares rose by 6%, recovering from a late-October decline, and have gained nearly 15% since the beginning of the year [4] Strategic Moves - Walmart announced a transition of its stock listing from the New York Stock Exchange to Nasdaq, maintaining its "WMT" ticker, with the move expected by December 9 [7] - This strategic shift aligns with Walmart's long-term tech-powered approach, as stated by CFO John David Rainey [7] Leadership Change - CEO Doug McMillon will step down at the end of January 2024, with John Furner, the current CEO of Walmart U.S., set to take over [6] Industry Insights - As the largest retailer in the U.S., Walmart's performance offers insights into consumer spending trends, indicating that higher-income consumers are increasingly shopping at its stores [5] - Analysts from JPMorgan noted that despite some concerns, there has not been significant change in Walmart's performance trends over recent quarters [5]