by Christopher Freeburn | May 17, 2012 10:55 am
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.
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.
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