US retail giant Walmart reported higher quarterly revenue Thursday and raised its outlook, in an expectations-beating earnings report as American households feel the squeeze from rising costs of living.

The results of Walmart, which caters to buyers across income groups, are seen as a key gauge of consumer behavior as households become more price-sensitive.

The company saw revenues rise 5.8 percent to $179.5 billion for the three months ending October 31, exceeding analyst expectations.

Its earnings per share also came in above estimates at 62 cents.

Walmart lifted its outlook for the fiscal year too, expecting net sales to grow between 4.8 percent and 5.1 percent, up from a previously anticipated 3.75 percent to 4.75 percent increase.

"We saw strength across income cohorts, and espec

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