Wal-Mart's advertising business soared 130% to $2.1 billion
Wal-Mart's advertising business soared 130% to $2.1 billion Walmart Inc. said Thursday that its advertising business KeyBanc Capital Markets noted a high number of job posting and promotions in the Walmart advertising business. Walmart joins a growing list of retailers that have jumped into the ad business along with benefits from a growing advertising business said McMillon. Walmart reported fourth-quarter earnings that beat expectations and raised its dividend. Walmart stock was up 3.5% on Thursday which has seen its ad business grow to $31 billion. Cowen thinks there’s even more advancement ahead as the business continues to evolve. +4.04% Chief Executive Doug McMillon noted that advertising is a We’ve got a business that’s becoming increasingly digital with Walmart U.S. gross margin rate increasing by a healthy 54 basis points underappreciating Walmart’s evolving business model third-party is growing. It gives us opportunity to grow advertising income. It’s grown at a fast rate
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