Wal-Mart tops 1Q profit fore­casts

Cape Breton Post - - Business -

BEN­TONVILLE, Ark. - Wal-Mart Stores Inc. (WMT) on Thurs­day re­ported fis­cal firstquar­ter earn­ings of $3.04 bil­lion.

On a per-share ba­sis, the Ben­tonville, Arkansas-based com­pany said it had profit of $1.

The re­sults sur­passed Wall Street ex­pec­ta­tions. The av­er­age es­ti­mate of 14 an­a­lysts sur­veyed by Zacks In­vest­ment Re­search was for earn­ings of 96 cents per share. The world’s largest re­tailer posted rev­enue of $117.54 bil­lion in the pe­riod, miss­ing Street fore­casts. Eight an­a­lysts sur­veyed by Zacks ex­pected $117.63 bil­lion. For the cur­rent quar­ter end­ing in Au­gust, Wal-Mart ex­pects its per-share earn­ings to range from $1 to $1.08. An­a­lysts sur­veyed by Zacks had fore­cast ad­justed earn­ings per share of $1.07.

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