Walmart beats Wall Street’s holiday expectations as e-commerce sales soar

Walmart said Tuesday that quarterly revenue rose 6%, as shoppers turned to the big-box retailer throughout the holiday season and the company's global e-commerce sales grew by double digits. 

The retail giant also announced Tuesday that it would acquire smart TV maker Vizio to accelerate growth of its advertising business. Walmart is acquiring the company for $2.3 billion, or $11.50 per share. 

In a CNBC interview, Chief Financial Officer John David Rainey said customers have still shown discretion with purchases. They are putting fewer items in their baskets but shopping more frequently, he said. Electronics, TVs, computers and some other expensive items have been a tougher sell, Rainey added.

Yet, he said even after the holiday rush, Walmart saw continued sales strength.

Here's what Walmart reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

In the three-month period that ended Jan. 31, Walmart's net income fell to $5.49 billion or $2.03 per share, compared with $6.28 billion, or $2.32 per share, in the year-ago period.

Revenue increased from $164.05 billion in the year-ago period.

Walmart said it expects consolidated net sales to rise 4% to 5% in its fiscal first quarter. It also anticipates adjusted earnings of $1.48 to $1.56 per share on a pre-stock split basis.

For its fiscal 2025, the retailer expects consolidated net sales will climb 3% to 4%. Walmart anticipates adjusted earnings will be $6.70 to $7.12 per share on a pre-stock split basis.

Walmart shares closed 3% higher Tuesday after the company shared its results, outlook and acquisition news. Shares of Walmart are up more than 11% this year, outperforming the S&P 500, which is up about 4% during