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Wal-Mart Profit Tops $1 Billion

Wal-Mart Stores Inc. reported Tuesday third-quarter profits of more than $1 billion.

The world's largest retailer (WMT) posted net income for the quarter of 45 cents a share, or $1.01 billion, up from 35 cents a share or $792 million in the year-ago period.

Wal-Mart's earnings finished ahead of First Call's consensus estimate of 43 cents. The company's stock hovered at 70 9/16.

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Wal-Mart Stores (WMT)
Sales at stores open at least one year rose 8.5 percent during the quarter against the year ago figure.

Net sales rose to $33.5 billion from $28.7 billion in the year-ago quarter.

Sam's Club, the chain of membership warehouse stores owned by Wal-Mart, posted an operating profit of $172 million compared to $138 million a year earlier.

Overall, the international segment more than doubled its operating profit to $109 million, from $52 million.

"Notwithstanding our current momentum, we temper our enthusiasm for the fourth quarter purely because we face more difficult comparisons resulting from last year's solid performance," said CEO Donald Glass.

"However, we believe our results for the fourth quarter will be in the range of current estimates," he added. See press release.

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