WALMART BEATS ON EARNINGS, RAISES GUIDANCE

Walmart on Thursday reported second-quarter earnings that topped expectations, and the company raised its full-year earnings outlook.

The world's largest retailer earned $1.07 in adjusted earnings per share on revenue of $120.9 billion.

Analysts had estimated that Walmart earned $1.02 in adjusted EPS, and revenue of $120.3 billion.

Walmart recently announced it was buying Jet.com for $3 billion, a deal that would boost its ecommerce business and take on Amazon. At the time of the announcement, Walmart had generated about $14 billion in annual e-commerce sales, versus Amazon's $99 billion in annual revenue.

The company now projects adjusted EPS for 2017 in a range of $4.15 to $4.35, up from $4 to $4.30 previously.

Walmart's shares gained 19% this year through Wednesday's market close.

More to come ...

NOW WATCH: Forget the gross factor: There are serious health reasons for why you shouldn't pick your nose

Please enable Javascript to watch this video