UPDATE: Wal-Mart Q3 Net Profit Rises 2.8%

Wal-Mart Stores

reported a 2.8% rise in its fiscal third-quarter earnings and narrowed its full-year earnings outlook. Wal-Mart now expects full-year earnings of $5.11 to $5.21 per share, versus its earlier forecast of $5.10 to $5.30 per share. It also projects current-quarter earnings of $1.60 to $1.70 per share, versus analysts' estimates of $1.69 per share. Wal-Mart's quarterly profit surged to $3.74 billion, or $1.14 per share, from a year-ago profit of $3.64 billion, or $1.08 per share. The company in August expected earnings of $1.11 to $1.16 per share. Its revenue climbed 1.7% to $115.69 billion, versus analysts' estimates of $116.81 billion. Wal-Mart shares fell 0.86% to $78.22 in pre-market trading.