NEW YORK — Wal-Mart Stores Inc. is reporting a 9 percent increase in third-quarter net income as the world's largest retailer continues to woo back shoppers by re-emphasizing that it has the lowest prices.
The company, based in Bentonville, Ark, says Thursday it earned $3.63 billion, or $1.08 per share, in the quarter ended Oct. 31. That compares with $3.33 billion, or 96 cents per share, in the year-ago period.
Net sales, excluding Sam's Club membership fees, rose 3.4 percent to $113.2 million.
Analysts were expecting $1.07 per share on revenue of $114 billion.
Wal-Mart says its revenue at stores opened at least a year rose 1.5 percent, below Wall Street's estimate of 1.8 percent.
Wal-Mart narrowed its full year earnings guidance and issued a fourth-quarter profit outlook that's below analysts' forecasts.
Scripps Interactive Newspapers Group
Comments » 0
Be the first to post a comment!
Share your thoughts
Comments are the sole responsibility of the person posting them. You agree not to post comments that are off topic, defamatory, obscene, abusive, threatening or an invasion of privacy. Violators may be banned. Click here for our full user agreement.