BENTONVILLE, Ark. (AP) – Wal-Mart Stores Inc. (WMT) on Thursday reported fiscal second-quarter net income of $3.77 billion.
The Bentonville, Arkansas-based company said it had profit of $1.21 per share. Earnings, adjusted for non-recurring gains, were $1.07 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The world’s largest retailer posted revenue of $120.85 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $120.1 billion.
Wal-Mart expects full-year earnings in the range of $4.15 to $4.35 per share.
Wal-Mart shares have risen 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 7 percent. The stock has increased slightly more than 1 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at http://www.zacks.com/ap/WMT
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Keywords: Wal-Mart Stores, Earnings Report, Priority Earnings