After five straight quarters of decelerating e-commerce growth, Walmart’s online business increased in the company’s second quarter.
Walmart’s e-commerce growth has started accelerating just in time for its Jet.com deal
A nice change of pace after five subpar quarters of online growth.
Joe Raedle / Getty
Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.
Walmart’s global e-commerce business grew 11.8 percent year over year in the quarter, up from 7 percent in the previous quarter. The online business is still growing slower than it was a year ago, but Walmart will take it.
The earnings report comes 10 days after Walmart announced its plan to purchase the startup Jet.com for $3.3 billion in a blockbuster deal that will see Jet CEO Marc Lore take oversight over the Walmart.com business unit. The acquisition is expected to close later this year and dilute Walmart’s annual earnings per share by five cents, in part due to “expected operating losses,” the company said in scripted earnings remarks.
Walmart doesn’t break out online sales by geography, but has previously said that the U.S. digital business is growing faster than the company’s international business.
This article originally appeared on Recode.net.
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