5 Stocks that Crushed Earnings Expectations

3. Walmart Inc. (NYSE: WMT)

Number of Hedge Fund Holders: 58

Shares of Walmart Inc. (NYSE: WMT) are trading near their 52-week high after the world’s largest grocery chain announced better-than-expected financial results for the second quarter. The company reported adjusted earnings of $1.78 per share for the three months ended July 31, crushing analysts’ average estimate of $1.57 per share.

Revenue for the quarter rose nearly 6 percent to $141.04 billion, ahead of the consensus forecast of $137.02 billion. U.S. comparable sales in the quarter jumped 9.3 percent, while e-commerce sales climbed 97 percent.

Walmart also released its financial outlook for the third quarter. It expects adjusted earnings in the range of $1.30-$1.40 per share for the current quarter, in line with the consensus forecast of $1.32 per share. Moreover, U.S. comparable sales are expected to grow in the range of 6-7 percent, better than a 3.7 percent growth suggested by analysts.