UPDATE: Wal-Mart Posts Rise In Q2 Profit, Lowers Full-Year Forecast

Wal-Mart Stores 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.