Wal-Mart Stores Inc. (WMT) Stock Surges on Earnings
Wal-Mart Stores Inc. posted third-quarter profits Tuesday of $2.86 billion and upped its projected earnings for the year as it heads into the holiday shopping season.
The 8 percent rise in profits by the world's largest retailer beat Wall Street expectations and drew recognition from analysts.
Shares jumped 5.7 percnet, or $2.46, to $45.78 in early trading.
The company earned 70 cents per share, up from 62 cents per share in the same period a year ago. The 70 cents includes an after-tax gain equal to 1 cent per share. Analysts surveyed by Thomson Financial had forecast earnings of 67 cents per share on revenue of $91.67 billion
Wal-Mart had revenue of $91.95 billion in the period ending Oct. 31, up 8.8 percent from $84.47 billion a year ago.
The 8 percent rise in profits by the world's largest retailer beat Wall Street expectations and drew recognition from analysts.
Shares jumped 5.7 percnet, or $2.46, to $45.78 in early trading.
The company earned 70 cents per share, up from 62 cents per share in the same period a year ago. The 70 cents includes an after-tax gain equal to 1 cent per share. Analysts surveyed by Thomson Financial had forecast earnings of 67 cents per share on revenue of $91.67 billion
Wal-Mart had revenue of $91.95 billion in the period ending Oct. 31, up 8.8 percent from $84.47 billion a year ago.
Labels: Wal-Mart Stores Inc., WMT
posted by Stock Administrator @ 12:29 PM
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