Last week, the retail giant Walmart (NYSE:WMT) announced that it would move to acquire Vizio Holdings (NYSE:VZIO) for $2.3 billion. Walmart aims to bolster its
Vizio is a California-based company that provides smart television, sound bars, and accessories in the United States. Shares of this stock have moved down marginally over the past week as of close on Wednesday, February 28, 2024. Meanwhile the stock has shot up 57% month-over-month at the time of this writing. The company and stock have attracted considerable interest after its recent earnings surpassed expectations.
This company released its fourth quarter (Q4) and full-year fiscal 2023 earnings on February 27, 2024. Vizio delivered net revenue of $502 million – down from $533 million in the fourth quarter of fiscal 2022. Platform+ net revenue increased 28% year-over-year to $174 million. Gross profit jumped 14% to $98.1 million and Platform+ delivered gross profit of $105 million. EBITDA stands for earnings before interest, taxes, depreciation, and amortization, and it aims to give a clearer picture of a company’s productivity. Adjusted EBITDA jumped 20% year-over-year to $23.9 million.
For the full year, total net revenue fell 10% to $1.68 billion. Moreover, total gross profit jumped 14% to $356 million for fiscal 2023. Adjusted EBITDA also soared 44% year-over-year to $75.7 million.
Vizio looks like it will make a strong addition to Walmart’s already impressive stable. Indeed, Vizio’s earnings were geared up for solid growth, which will add to Walmart’s bottom line now.
