Wal-Mart Stores (NYSE: WMT) reported a 9% rise in its third-quarter profit.
Wal-Mart’s quarterly profit surged to $ 3.64 billion, or $ 1.08 per share, versus $ 3.34 billion, or $ 0.96 per share, in the year-earlier period.
Its sales climbed 3.4% to $ 113.2 billion. However, analysts were expecting earnings of $ 1.07 per share on sales of $ 114 billion.
Wal-Mart projects full-year profit of $ 4.88 to $ 4.93 per share, versus its previous forecast of $ 4.83 to $ 4.93 per share. However, analysts were expecting earnings of $ 4.93 per share.
Wal-Mart shares dropped 3.03% to $ 69.15 in pre-market trading.
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Posted in: Earnings, News, Guidance