(AP) – Walmart on Thursday reported fiscal third-quarter net
income of $1.75 billion.On a per-share basis, the Bentonville, Arkansas-based company said it had net income of 58 cents. Earnings, adjusted to extinguish debt and for non-recurring costs, came to $1 per share.
income of $1.75 billion.On a per-share basis, the Bentonville, Arkansas-based company said it had net income of 58 cents. Earnings, adjusted to extinguish debt and for non-recurring costs, came to $1 per share.
The results exceeded Wall Street expectations. The average estimate of 15
analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The world’s largest retailer posted revenue of $123.18 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $121.05 billion.
Wal-Mart expects full-year earnings in the range of $4.38 to $4.46 per share.
Wal-Mart shares have climbed 30 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 15 percent.
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