Here's everything you need to know about Walmart earnings

Walmart is set to report second-quarter earnings before the bell on Thursday.

Here's what analysts are expecting, based on a survey by Thomson Reuters:

* Earnings per share: $1.22
* Revenue: $125.97 billion
* Same-store sales: an increase of 2.2 percent

Walmart has been focused on bulking up its online platform to compete with its biggest rival, Amazon. It has redesigned its website, purchased the biggest e-commerce player in India, Flipkart, and struck a partnership with Lord & Taylor that brings new merchandise to Walmart.com. Walmart is also adding more delivery options. But all this activity also means the retailer's profit margins have taken a hit as expenses ramp up, and in recent quarters shares have traded off on that news.

Investors will be looking for online growth. In the prior quarter, Walmart's online business grew sales 33 percent. That was an improvement over the 23 percent growth in the fourth quarter of last year, but still down from the robust 50 percent growth logged in the third quarter.

Walmart has meanwhile been transforming its grocery business and re-outfitting its stores to adjust for online delivery. The company has said it's on track to roll out grocery delivery for online orders to about 800 of its stores by year's end. The grocery sector today is full of competition from the likes of Amazon-owned Whole Foods, Kroger, and Albertsons and Target.

Ahead of the holiday season, Walmart is also expected to take a larger share of the toy market in the wake of Toys R Us liquidating its stores. Consumer confidence in the U.S. is upbeat on the whole as the unemployment rate remains at record lows, which should bode well for retailers for the remainder of the year. To be sure, there is still some uncertainty around the prospect of additional tariffs implemented by President Donald Trump's administration.

Walmart shares are up about 11 percent from a year ago, bringing the retailer's market cap to $265 billion roughly. For comparison, Amazon's stock has climbed more than 90 percent over the same time period, and the e-commerce giant has a market cap is nearly $920 billion.

This is a developing story. Please check back for updates.

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