BENTONVILLE (dpa-AFX) - Walmart (WMT) has crossed the $1 trillion market capitalization mark, a milestone driven by a sharp rise in its share price and the expanding role of its digital businesses.
The move places the world's largest retailer among a small group of trillion-dollar companies, most of which are technology-focused, underscoring how far Walmart has shifted beyond its traditional brick-and-mortar roots.
The stock's strong performance has been fueled by steady gains in e-commerce, advertising and its third-party marketplace, areas that offer higher margins than physical retail. Walmart's digital expansion has mirrored elements of Amazon's playbook, and its recent inclusion in the Nasdaq 100 highlighted its growing tech orientation.
The valuation milestone comes shortly after John Furner took over as chief executive, following longtime CEO Doug McMillon. As head of Walmart's U.S. business, Furner played a key role in initiatives such as curbside pickup, improved private-label offerings and omnichannel upgrades, which helped the company attract higher-income shoppers during a period of elevated inflation.
Recent results have reinforced that momentum. Walmart reported solid revenue growth in its most recent quarter, driven by a surge in online sales and rapid expansion of its advertising business.
With fiscal fourth-quarter earnings expected later this month, investors are watching closely to see whether the retailer can sustain its digital-led growth as it builds on its trillion-dollar status.
WMT closed at $127.71, up 2.94%, and is trading 0.15% higher at $127.9 in after-hours trading on the NasdaqGS.
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