Wal Mart posts better-than-expected Q2 sales and profits

Retail giant Wal Mart delivered better-than-expected quarterly earnings and sales, while raising its forecasts for the latter in 2023.

The US retailer posted second quarter sales of roughly $152.9bn (FactSet: $150.99bn), for earnings per share of $1.88 (consensus: $1.62).

In the comparable year ago period, Wal Mart reported sales of $141.05bn and EPS of $1.52.

The company also raised its guidance for growth in full-year 2023 EPS from -11.0-13.0% to -9.0-11.0%.

As of 1250 BST, shares of Wal Mart were trading up by 3.67% to $137.46.

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