There’s bad news in the good news.
Walmart Inc. lifted investor spirits on Tuesday beating earnings expectations and raising its full-year outlook, suggesting that American consumers kept spending going into the all-important holiday season. Total revenue came in at $152.8 billion, an 8.7% increase from last year and ahead of estimates. The company now expects consolidated net sales for the year to grow about 5.5%, or 6.5% excluding divestitures, and expects earnings to fall by 6% to 7% compared to earlier estimates of 9% to 11%. Its stock rallied as much as 8.6% Tuesday morning off the news.
