WMT: Walmart Smashes Revenue Calls as Online Shopping Boosts Top Line to $173B

Giant retailer also said it’s closed a deal to buy smart TV maker Vizio for $2.3 billion in a heavy bet on advertising revenue.

• Walmart WMT released solid earnings figures for the latest quarter with revenue rising 6% thanks to the retailer’s e-commerce business. For the three months to January 31, Walmart picked up $173.39 billion in revenue, topping Wall Street estimates for $170.71 billion. Earnings per share arrived at $1.80 a pop, eclipsing calls for $1.65 per share.
• The big surprise in the release, Walmart said it has reached a deal to acquire smart TV maker Vizio for $2.3 billion. Apparently, the retailer is looking to lean more heavily on advertising revenue. As part of the deal, Walmart will be selling advertising through the TVs made by Vizio.
• Walmart’s net income dropped to $5.49 billion from $6.28 billion in the year-ago quarter. Shares of the company rose just over 2% in the lead-up to market open on Tuesday. For the year, the stock has been on a steady upward trajectory, marking an increase of roughly 7%.