UPDATE: Wal-Mart Posts Rise In Q2 Profit, Lowers Full-Year Forecast
Wal-Mart Stores (NYSE: WMT) reported a rise in its fiscal second-quarter profit.
Wal-Mart's quarterly profit surged to $4.07 billion, or $1.24 per share, from $4.02 billion, or $1.18 per share, in the year-ago period. Excluding one-time items, Wal-Mart earned $1.25 per share, versus analysts' estimates of $1.25 per share.
Its revenue increased 2.3% to $116.9 billion from $114.3 billion, while same-store sales dropped 0.3%.
Wal-Mart lowered its full year earnings forecast to $5.10 to $5.30 per share, versus its earlier outlook of as much as $5.40 per share. It expects Q3 profit of $1.11 to $1.16 per share, versus analysts' estimates of $1.17 per share.
Wal-Mart shares fell 1.83% to $75.00 in pre-market trading.
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