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Updated from 7:23 a.m. EDT


(WMT) - Get Walmart Inc. Report

, the world's largest retailer, reported first-quarter earnings of $3 billion, or 77 cents a share, in line with the estimates of analysts and at the high end of the company's internal forecasts.

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In a statement Thursday, Wal-Mart said currency exchange rates reduced earnings by 4 cents a share. In the year-earlier first quarter, the retailer earned 76 cents a share.

Net sales fell 0.6% to $93.471 billion. Wal-Mart said without the negative impact of currency exchange rates, equal to $4.84 billion, net sales for the quarter rose 4.5% to about $98.31 billion on a constant currency basis. Analysts surveyed by Thomson Reuters expected sales of $96.24 billion.

U.S. same store sales in the first quarter rose 3.7%, without the impact of fuel, and 2.9% with fuel.

Wal-Mart said its U.S. and Sam's Club's divisions each expect their same-store sales for the 13 weeks ending July 31 to be between flat to up 3%.

Wal-Mart said it expects second-quarter earnings of 83 cents to 88 cents a share. Analysts surveyed by Thomson Reuters expect the retailer to earn 85 cents a share in the period.