Walmart's stock price rose after it reported first-quarter earnings that beat analyst expectations, demonstrating consumer resilience in spending despite economic pressure. Walmart's market capitalization surpassed $500 billion for the first time following the strong earnings results. Walmart's CFO stated that consumers have remained consistent in spending from quarter to quarter, though budgets remain stretched. Upper-income consumers are increasingly shopping at Walmart. Analysts noted Walmart's increasing focus on higher-margin revenue streams like digital advertising, marketplace fees, and fulfillment services contributing to growth.
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00:00 It's Benzinga and here's what's on the block.
00:02 Walmart's stock price rose after it reported first-quarter earnings that beat analysts'
00:06 expectations, demonstrating consumer resilience in spending despite economic pressure. Walmart's
00:11 market capitalization surpassed $500 billion for the first time following the strong earnings
00:16 results. Walmart's CFO stated that consumers have remained consistent in their spending from
00:20 quarter to quarter, though budgets remain stretched. Upper-income consumers are increasingly
00:25 shopping at Walmart. Analysts noted Walmart's increasing focus on higher margin revenue
00:30 streams like digital advertising, marketplace fees, and fulfillment services contributing
00:34 to the growth. For all things money, visit Benzinga.com.