Walmart Beats Profit Estimates as Online Sales Hit Record on Pandemic Boost

Walmart Beats Profit Estimates as Online Sales Hit Record on Pandemic Boost
People wearing face coverings wait in line to shop at Walmart in Burbank, Calif., on July 22, 2020. Robyn Beck/AFP via Getty Images
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Walmart posted its biggest-ever growth in online sales on Tuesday as shoppers placed orders for everything from electronics and toys to groceries from their homes amid the COVID-19 pandemic.

The near-doubling of online sales in the second quarter helped the retailer trounce Wall Street expectations for quarterly profit and same-store sales.