Core Insights - Walmart reported strong quarterly revenues, exceeding Wall Street estimates, driven by increased online shopping and a growing customer base among high-income consumers [1][2]. Financial Performance - Walmart's stock rose over 5.6% to above $106, marking its second-largest gain this year, following a 9.5% increase in April [2]. - The retailer reported earnings per share of 62 cents and revenues of $179.5 billion, surpassing analysts' expectations of 60 cents and $177.4 billion [2]. Online Shopping Growth - Global online shopping sales increased by 27%, with a 28% rise in the U.S. and a 53% surge in its global advertising business [3]. - The popularity of Walmart's third-party marketplace also contributed to the growth in online sales [3]. Customer Demographics - Walmart's CFO noted an increase in "value-seeking" customers across various income levels, with a notable rise in traffic from high-income shoppers [4]. Future Outlook - The company anticipates sales growth of up to 5.1% for the year and expects earnings to range between $2.58 and $2.63, higher than previous forecasts [3].