Why Wal-Mart Stock Was Soaring Today

Shares of Wal-Mart Stores, Inc. (NYSE: WMT) were surging Thursday after the retail giant delivered a blowout third-quarter earnings report. As of 10:52 a.m. EST, the stock was up 8.5%.

Wal-Mart reported its best comparable sales growth in more than eight years as sales at established stores in the U.S. climbed 2.7% on a 1.5% uptick in traffic. The growth in comparable sales was aided by a 50% jump in U.S e-commerce sales, which added 80 basis points to same-store sales growth. The company also beat estimates on the top and bottom lines.

Image source: Walmart.

Source: Fool.com