Walmart (WMT) reported second earnings results that beat estimates on both revenue and profit, prompting the company to raise its full-year guidance for the second time this year. Fortune tech correspondent Jason Del Rey joins Catalysts to discuss what these results reveal about the state of the consumer.

Del Rey observes that consumers "are still working hard to find value," with Walmart's success this quarter "driven in large part by being aggressive on value." He also highlights the big-box retailer's efforts to add "convenience measures," such as pickup and delivery services, which are "paying off" for the company.

The strong performance of a budget retailer like Walmart raises questions about whether consumers are still under pressure. "I do think the fact that high-income consumers are still looking for value, as Walmart says the' value-convenience combination,' I think that says we're not quite out of the woods yet," the author of Winner Sells All: Amazon, Walmart and the Battle For Our Wallets tells Yahoo Finance. "I think that's indicative that other than the very wealthiest consumers, people don't feel comfortable yet with where we are."

Catch the full interview with Walmart Chief Financial Officer John David Rainey from Thursday morning.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Angel Smith