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Retail giant Walmart Inc (WMT) reported revenue was $123.9 billion in the first quarter, an increase of $1.2 billion.

Walmart reported quarterly earnings of $1.13 per share, which beat the analyst consensus estimate of $1.02 by 10.78 percent. This is a 0.88 percent decrease over earnings of $1.14 per share from the same period last year.

Sam's Club comp sales increased 0.3 percent, and e-commerce sales grew about 28 percent. U.S. e-commerce sales growth was 37 percent, which reflects strong growth in online grocery, as well as the home and fashion categories on Walmart.com

Walmart reported quarterly sales of $123.9 billion, which missed the analyst consensus estimate of $125.03 billion. This is a 0.99 percent increase over sales of $122.69 billion the same period last year.

"We're changing to enable more innovation, speed and productivity, and we're seeing it in our results," CEO Doug McMillon said in the release. "We're especially pleased with the combination of comparable sales growth from stores and eCommerce in the U.S. Our team is demonstrating an ability to serve customers today while building new capabilities for the future, and I want to thank them for a strong start to the year."

Walmart's stock traded higher by 1.5 percent at $101.45 per share Thursday morning.