NEW YORK — Walmart reported fiscal first-quarter sales rose 7.3% to $177.75 billion for the quarter ended April 30, exceeding analyst expectations of $174.84 billion, according to FactSet. The retailer posted net income of $5.33 billion, or 67 cents per share, with adjusted per-share earnings of 66 cents matching analyst estimates.

U.S. comparable store sales climbed 4.1% during the three-month period, while U.S. online sales rose 26%. More than 150 million customers visit Walmart's website or its stores every week, according to the company. The biggest gains in Walmart's market share are coming from households with annual income over $100,000.

For the second quarter, Walmart expects sales to be 4% to 5% higher than the same period a year ago, ranging from $182.8 billion to $184.59 billion. The company forecast per-share profit of between 72 cents and 74 cents for the quarter, a projection that fell below Wall Street expectations.

Walmart's annual guidance remains per-share earnings between $2.75 and $2.85 and sales growth of 3.5% to 4.5%, equating to sales between $731.1 billion and $738.2 billion. Wall Street analysts anticipate annual profits of $2.92 per share on sales of $749.01 billion, according to FactSet.

Shares of Walmart slipped more than 2% before the opening bell on Thursday. Gasoline prices are about 45% above where they were at this time last year.

The results followed reports from other major retailers earlier in the week. Target reported its largest jump in comparable sales in four years on Wednesday and raised its annual revenue outlook. Home Depot and Lowe's also reported results for the quarter, with both companies saying customers are putting off larger home projects.