Walmart has once again demonstrated robust sales and profit growth in the third quarter, leveraging its competitive pricing to attract customers looking to minimize their expenses. This strategy has proven effective, and as a result, the retail giant has increased its sales forecast for the year. Following the announcement, Walmart’s shares experienced a nearly 4% uptick in premarket trading on Tuesday.

Headquartered in Bentonville, Arkansas, Walmart disclosed a net income of $4.58 billion, translating to earnings of 57 cents per share, for the quarter ending October 31. This represents a significant increase from the $453 billion and earnings of 6 cents per share reported in the same quarter last year.

In terms of adjusted earnings, Walmart reported 58 cents per share, exceeding Wall Street’s expectations by five cents based on FactSet surveys. The retailer achieved a sales increase of 5.5%, totaling $169.59 billion, compared to $160.8 billion during the same time last year, also surpassing analyst forecasts.

Walmart’s comparable store sales, which take into account both online and physical stores open for over a year, saw an impressive rise of 5.3% in the U.S. This marks an increase from the previous quarters, where they reported gains of 4.2% in the second quarter and 3.8% in the first quarter. The company noted that sales growth was evident across all product categories, highlighting strength in both its physical stores and digital platforms.