Walmart puts up strong Q3, announces opioid settlement

(AP) — Walmart reported higher sales in the fiscal third quarter as more Americans seek to cut spending in face of high inflation. 

Also on Tuesday, Walmart, based in Bentonville, Arkansas, agreed to pay $3.1 billion to settle lawsuits nationwide over the impact of prescriptions its pharmacies filled for powerful prescription opioid painkillers. 

The agreement must still be approved by 43 states to take effect. 

The settlement is similar to those already announced by CVS Health and Walgreen. Walmart sales rose 8.7% to $152.81 billion.