Online sales help boost Walmart profits by 80% to $6.5 billion

Walmart reported Tuesday a jump in second-quarter profits behind surging e-commerce sales, which nearly doubled due to use by home-bound consumers during the coronavirus pandemic.

Net income was $6.5 billion, up nearly 80 percent from the year-ago period, boosted also by a large gain based on its investment in Chinese company JD.com. 

Revenues rose 5.6 percent to $137.7 billion and included a lift from a 97 percent increase in Walmart US e-commerce sales. -Agence France-Presse