Wal-Mart Sales, Earnings Jump
Wal-Mart (WMT) said second-quarter earnings rose on an 11.3% jump in revenue as both its Wal-Mart stores and international segments posted double-digit sales gains.
The world's largest retailer had net income from continuing operations of $2.3 billion, or 52 cents a share, on revenue of $62.6 billion, compared with earnings of $2.0 billion, or 45 cents a share, on revenue of $56.27 billion last year.
Analysts surveyed by Thomson First Call were forecasting earnings of 52 cents a share and revenue of $63.40 billion.
Overall same-store sales for the quarter were up 3.2%, reflecting a 3.1% same-store sales increase for Wal-Mart Stores and a 3.6% same-store sales increase for its Sam's Club segment. By segment, the Wal-Mart division put up sales of $42.5 billion, up 10.2% from a year ago, while Sam's had sales of $8.6 billion, up 7.7%, and the international division had sales of $11.5 billion, up 18.8%.The shares were down a penny at $58.70 on the Instinet premarket session.
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