Walmart (NYSE:) reported its second-quarter results on Thursday, beating analysts’ expectations. Shares of the retail giant rose more than 6% following the announcement, driven by robust e-commerce growth and improved margins.

Walmart reported adjusted earnings per share of $0.67, beating analysts’ estimates of $0.64. Revenue for the quarter was $169.3 billion, beating the consensus estimate of $168.52 billion, representing a 4.8% increase year over year.

The company’s global e-commerce sales increased 21%, driven by in-store pickup and delivery services and market growth. Walmart’s consolidated gross profit margin improved 43 basis points, primarily due to increases in the Walmart US and Walmart International segments.

The retailer’s consolidated operating income increased $0.6 billion, or 8.5 percent, benefiting from higher gross margins, membership fee growth and lower e-commerce losses.

“Every part of our business is growing — store and club sales are increasing, e-commerce is growing as we build in pickup, and delivery is growing even faster as our speed increases,” said Doug McMillon, Walmart president and CEO. “Our newer businesses like marketplace, advertising and membership are also contributing, diversifying our profits and building the resilience of our business model.”

For the third quarter, Walmart expects earnings per share in the range of $0.51 to $0.52, slightly below the analyst consensus of $0.54. However, the company raised its outlook for full-year 2025, forecasting earnings per share in the range of $2.35 to $2.43, in line with the current analyst estimate of $2.43 and above the previous forecast of $2.23 to $2.37.

In addition, consolidated net sales are now expected to increase by 3.75% to 4.75% in fiscal 2025, above the previously forecast range of 3% to 4%.

In the second quarter, the company also reported a 2% reduction in global inventory, including a 2.6% decrease at Walmart US, indicating improved supply chain management.