Walmart Beats Earnings Estimates, Revenue $173.4B, Acquires Vizio for $2.3B
Walmart has beaten earnings estimates and announced the acquisition of smart TV maker Vizio for $2.3 billion. The deal aims to enhance Walmart's advertising business and compete with other smart TV manufacturers. Walmart's revenue for the fourth quarter was $173.4 billion, up from $164 billion last year, with a rise in comparable sales of 3.9%. The acquisition is seen as a strategic move to boost Walmart's advertising reach.
Sources
The New ConsumerWhy Walmart is buying a TV brand: https://t.co/N4TKqNowAY Vizio will cost $2+ billion, but it’s priceless for Walmart’s advertising business.
Elizabeth Warren
.@Walmart's deal with @VIZIO is a warning bell. Giant corporations are copying @Amazon’s playbook: buy or kill competitors in commerce, entertainment, and advertising. Regulators should scrutinize whether this merger will extend Walmart’s dominance and threaten competition. https://t.co/pIA1VbbBKd
Digiday Walmart's acquisition of smart TV maker Vizio will bolster retail media offering Walmart Connect, adding streaming capabilities that will help it attract more brand marketing ad dollars. https://t.co/kHK7cTfFH5
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