Walmart's first-quarter revenue was $161.5 billion, with significant growth in e-commerce business

Walmart recently released its first quarter financial report. As of April 26, Walmart's first quarter revenue was $161.5 billion, a year-on-year increase of 6%; operating profit was $6.8 billion, a year-on-year increase of 9.6%.

Among them, the Chinese market performed particularly well. Sales in China were US$5.7 billion, a year-on-year increase of 16.2%, e-commerce sales increased by 23% year-on-year, and e-commerce penetration rate increased to 43%. Walmart said that this growth was mainly driven by high-income consumers.

At the same time, Walmart's e-commerce business also grew significantly. Walmart's U.S. e-commerce sales increased by 22% during the same period, and global e-commerce sales increased by 21%. For the first time, Walmart's delivery business exceeded its physical store pickup business in terms of volume.

Meanwhile, Walmart's U.S. business transaction volume increased by 3.8% year-on-year, and sales increased slightly by 4.6% to $108.7 billion, exceeding analysts' forecast of $107.94 billion; international sales rose faster, up 12.1% year-on-year to $29.8 billion, exceeding analysts' expectations of $28.8 billion. In addition, Walmart's Sam's Club sales also increased by 4.6% year-on-year to $21.4 billion, and its transaction volume increased by 5.4% year-on-year.