Wal-Mart Stores Inc. (WMT) Profit Rises
Wal-Mart Stores Inc., the world's largest retailer, said Tuesday that third-quarter earnings rose 11.5 percent despite weak growth in U.S. sales and promised its most aggressive holiday discounts ever to fuel year-end business.
Its shares rose $1.83, or 4 percent, to $48.14 in morning trading on the New York Stock Exchange.
For the quarter ended Oct. 31, the company posted net income of $2.65 billion, or 63 cents per share, compared with $2.37 billion, or 57 cents per share, a year earlier.
Net sales totaled $83.5 billion, an increase of 12 percent from $74.6 billion.
Its shares rose $1.83, or 4 percent, to $48.14 in morning trading on the New York Stock Exchange.
For the quarter ended Oct. 31, the company posted net income of $2.65 billion, or 63 cents per share, compared with $2.37 billion, or 57 cents per share, a year earlier.
Net sales totaled $83.5 billion, an increase of 12 percent from $74.6 billion.
Labels: Wal-Mart, Wal-Mart earnings, WMT
posted by Stock Administrator @ 11:01 AM
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