The chain of supermarkets United States Walmart announced on Tuesday the purchase of the manufacturer of Vizio televisions for 2.3 billion dollars, publishing better-than-expected financial results.
with this purchase Walmart wants to offer its customers connected television services and generate new advertising revenue, the group explained in a statement.
Vizio, founded in 2002, provides TV connection services to 18 million users.
This operation should energize “even more the activities of Walmart’s media arm in the United States, Walmart Connect”indicated the company.
It is “a lucrative division that had global growth of 33% in the last quarter,” Neil Saunders, from GlobalData.
With this purchase, Walmart Connect, which offers advertising in stores and websites, “can enter consumers’ homes on television.”
Walmart recorded sales of $648.1 billion in its annual fiscal year ended at the end of January, an advance of 6% over the last fiscal year and above its own forecasts.
Profits also grew, 33%, to 15.51 billion dollars. Per share, this is a profit of $6.65, 5.7% more than the previous year.
Walmart is the largest private employer in the United States and closed 2023 with a dynamic fourth quarter, with sales that amounted to $173.4 billionabove Wall Street forecasts.
(With information from AFP)
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
