Wal-Mart: Shares Jump as Profits Soar

Revenues and U.S. same-store sales growth beat analysts

   

Wal-Mart (NYSE:WMT) announced Thursday that earnings for its fiscal first-quarter rose 10.1% to $3.74 billion, up from $3.39 billion in the same quarter last year.

EPS for the first quarter was $1.09, topping Wall Street expectations of $1.04 a share, the Associated Press noted.

walmart banner 630 2011 200x200 Wal Mart: Shares Jump as Profits Soar
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Shares of the world’s largest retailer jumped more than 5% in Thursday morning trading.

Excluding membership fees from its Sam’s Club unit, sales at the retailing giant grew 8.6% to $112.2 billion. That also bested analysts, who predicted sales of $110.5 billion for the quarter.

Same-store revenue increased 2.6% at its eponymous U.S. stores, which exceeded analysts’ forecast of 1.4% revenue growth.

The company noted strong growth in its Mexican subsidiary, which has been the focus of a recent allegations of widespread corruption.


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/wal-mart-shares-jump-as-profits-soar/.

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