Gunnar Rathbun/AP Images for Walmart
- President Donald Trump on Thursday touted Walmart‘s "outstanding" earnings report as evidence that the US economy is "doing great" amid fears of a looming recession.
- "Walmart, a great indicator as to how the U.S. is doing, just released outstanding numbers," Trump tweeted.
- Visit Business Insider’s homepage for more stories.
President Trump on Thursday touted Walmart’s "outstanding" quarterly-earnings report as evidence that the US economy is "doing great" amid fears of a looming recession.
"Walmart, a great indicator as to how the U.S. is doing, just released outstanding numbers," Trump tweeted on Thursday. "Our Country, unlike others, is doing great! Don’t let the Fake News convince you otherwise."
Walmart reported quarterly earnings on Thursday that topped expectations and raised its outlook for the year.
The company said same-store sales increased 2.8% year-over-year and total revenues grew 1.8% year-over-year to $130 billion.
Walmart also said e-commerce sales rose 37% during the quarter, matching growth during the previous quarter.
NOW WATCH: Why bonsai trees are so expensive
See Also:
- Police are hunting for a mysterious ‘hero’ who may have saved an infant and several others during the deadly El Paso Walmart shooting
- Walmart says viral photo of gun display touting ‘own the school year like a hero’ was staged
- An expert breaks down the psychology behind the copy-cat threats that followed the recent mass shootings at Walmart
SEE ALSO: Walmart: ‘It’s time’ for Congress to debate an assault-weapons ban
Source: Business Insider – hpeterson@businessinsider.com (Hayley Peterson)