Wal-Mart's Beat And Raise Quarter

Wal-Mart Stores, Inc.

reported better than expected EPS and revenue for the second quarter. The company updated its EPS forecast for the full year sending the stock higher in the pre-market trading on Thursday. The biggest retailer reported EPS of $1.21 in the second quarter, which was negatively impacted by currency by $0.03. On an adjusted basis, it would have earned $1.07, which exceeded the Street estimates by $0.05 a share. Wal-Mart's revenue grew 0.5 percent to $120.9 billion and topped the analysts' expectations of $120.16 billion. On a constant currency basis, its total revenue would have grown 2.8 percent to $123.6 billion. Its comp sales recorded 1.6 percent increase in the second quarter driven by favorable traffic growth of 1.2 percent while neighborhood market comp sales advanced about 6.5 percent. Moving ahead, the retailer expects adjusted EPS to be in the range of $4.15 - $4.35 for the full year 2016. Street is looking for an EPS of $4.27. Following this, shares of the company traded up by $2.47, or 3.39 percent, to $75.35 in the pre-market trading on Thursday.