Walmart, one of the world’s largest retailers, released its Q4 and FY23 earnings report on Thursday, revealing strong revenue and earnings figures. The company reported revenue of $524.4 billion for the fourth quarter, up 5.2% from the same period last year, and $523.96 billion for the full year, up 5.4%. Earnings per share for the fourth quarter came in at $1.39, up 8.3% from the same period last year, and $5.11 for the full year, up 8.2%.
Walmart’s strong earnings were driven by increases in U.S. same-store sales, which rose 9.3% in the fourth quarter and 7.3% for the full year. The company also saw strong growth in its e-commerce business, which rose 69% in the fourth quarter and 40% for the full year. Walmart attributed the strong e-commerce growth to increased customer demand for online ordering and delivery services.
The company also reported strong growth in its international segment, with sales rising 6.2% in the fourth quarter and 6.6% for the full year. Walmart attributed the strong international growth to increased demand from customers in Mexico, the UK, and China.
Looking ahead, Walmart expects to see continued strong growth in the coming year. The company forecasts U.S. same-store sales to increase in the low- to mid-single digits, and e-commerce sales to increase in the mid- to high-teens. Walmart also expects to see strong growth in its international segment, with sales rising 5-7%.
Overall, Walmart reported strong earnings for the fourth quarter and full year, driven by increases in same-store sales and e-commerce sales. The company also provided a positive outlook for the coming year, expecting to see continued strong growth across its segments. Investors seemed pleased with the results, with Walmart’s stock price rising 1.6% in after-hours trading.