Walmart's strong first quarter driven by consumers seeking bargains with inflation still an issue

Walmart reported another quarter of strong quarterly results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high. The nation’s largest retailer also offered an upbeat outlook. Walmart reported profits of $5.10 billion, or 63 cents per share for the quarter ended April 30. That compares with $1.67 billion, or 21 cents per share. Adjusted earnngs per share was 60 cents, far surpassing estimates for 53 cents per share, according to FactSet analysts.Revenue rose 6% to $161.51 billion, up from $152.3 billion in the year-ago quarter. Analysts expected $159.6 billion.