Walmart flexes in the fourth quarter, beats all expectations; stock rises

Walmart delivered a quarterly report that beat expectations on profit and revenue, and e-commerce sales surged during the critical holiday period.

Shares moved sharply higher before the opening bell Tuesday.

Walmart is the first major retailer to deliver fourth-quarter results and its performance was the latest evidence that it is widening the gap between itself and its rivals, and that it is holding its own against Amazon.com.

Given the company’s size, it’s also encouraging news for the retail sector after an especially weak December retail sales report released last week spooked markets. The government data, delayed by a government shutdown, raised fears that a volatile stock market, a government impasse, and a trade war with China had chilled consumer spending.