Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investors

(AP) — Walmart extended its streak of strong quarterly gains heading into the holiday season as its low-prices continue to attract shoppers looking for deals in a tough economic environment. 

Walmart reported that it swung to a profit of $453 million in the three-month period ended Oct. 31. Adjusted earnings totaled $1.53 per share. Revenue rose 5.2% to $160.84 billion. 

Analysts were expecting $1.52 per share on sales of $159.65 billion, according to FactSet estimates. 

Walmart, the nation’s largest retailer, is among the first batch of major U.S. retailers to report quarterly results. Industry analysts are dissecting the data, seeking to shed more light on how consumers are feeling as the holiday approaches.