Walmart’s stock gains after earnings beat, deal announced to buy Vizio for $2.3 billion

Shares of Walmart Inc.
WMT,
+0.63%
climbed 1.3% into record territory in premarket trading Tuesday, after the discount retail giant reported fiscal fourth-quarter profit that beat expectations, and announced an agreement to buy Vizio Holding Corp.
VZIO,
+0.21%
in a deal valued at $2.3 billion. Net income for the quarter to Jan. 31 fell to $5.49 billion, or $2.03 a share, from $6.28 billion, or $2.32 a share, in the same period a year ago. Excluding nonrecurring items, adjusted earnings per share of $1.80 beat the FactSet consensus of $1.64. Total revenue grew 5.7% to $173.39 billion, above the FactSet consensus of $170.85 billion. U.S. same-store sales, or stores open at least a year, rose 4.0% to beat the FactSet consensus of 3.3% growth, while Sam’s Club same-store sales rose 3.1% to top expectations of a 2.7% increase. Looking ahead, the company expects first-quarter adjusted EPS of $1.48 to $1.56, below the FactSet consensus of $1.60, and guides for full-year adjusted EPS of $6.70 to $7.12 versus expectations of $7.06. The stock has rallied 9.7% over the past three months through Friday, while the Dow Jones Industrial Average
DJIA,
-0.37%
has advanced 9.9%.