Wal-Mart beats 3Q profit forecasts
BENTONVILLE, Ark. (AP) — Wal-Mart Stores Inc. (WMT) on Tuesday reported fiscal third-quarter earnings of $3.3 billion.
On a per-share basis, the Bentonville, Arkansas-based company said it had profit of $1.03.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The world's largest retailer posted revenue of $117.41 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $117.82 billion.
Wal-Mart expects full-year earnings to be $4.50 to $4.65 per share.
Wal-Mart shares have decreased 33 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined 30 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at http://www.zacks.com/ap/WMT
Keywords: Wal-Mart Stores, Earnings Report, Priority Earnings