By ANNE D\u2019INNOCENZIO, AP Retail Writer<\/p>\n
NEW YORK (AP) \u2014 Walmart delivered another standout quarter as the promise of lower prices drew in a broader spectrum of Americans during the critical holiday shopping period, including wealthier households.<\/p>\n
The outlook from the Bentonville, Arkansas, company, however, hinted at a volatile economic environment ahead on Thursday.<\/p>\n
Shares dipped almost 3% before the opening bell.<\/p>\n
Walmart reported fourth quarter earnings of $4.24 billion, or 53 cents per share for the quarter ended Jan. 31. Adjusted per-share results were 74 cents, a penny better than Wall Street expected, according to FactSet.<\/p>\n
Last year, the company reported net income of $5.25 billion, or 65 cents per share.<\/p>\n
Sales rose 5.6% to $190.7 billion, from $180.6 billion, also edging out expectations.<\/p>\n
Comparable sales at Walmart stores, including online sales, rose 4.6% after a 4.5% increase in the previous quarter.<\/p>\n
Global e-commerce sales rose 24%.<\/p>\n
It is the first quarter time in more than a decade that the retail giant is reporting quarterly earning under a new chief executive.<\/p>\n
John Furner, 51, who headed the company\u2019s U.S. operations, took over for Doug McMillon<\/a> this month. McMillon had turned America\u2019s largest retailer into a tech-powered giant and spearheaded an era of robust sales growth after being named Walmart\u2019s CEO in 2014.<\/p>\n Walmart\u2019s shares rose more than 25% since its last quarterly earnings report and earlier this month it became the first non-tech company to reach a valuation of more than a $1 trillion.<\/p>\n It has done so with many Americans carefully considering where they spend money because of inflation and how the company performs is considered a barometer of consumer spending given its vast customer base<\/a>. More than 150 million customers are on its website or in its stores every week, according to Walmart.<\/p>\n