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Wal-Mart’s Q2 profit rises
Wal-Mart Stores (NYSE: WMT) reported a 3.6-percent increase in second-quarter net income and raised its earnings guidance for the full year.
Wal-Mart’s net income was $3.59 billion, or $0.97 per share, compared to $3.47 billion, or $0.89 per share, a year ago.
Revenue rose nearly 3 percent to $103.7 billion. Revenue at stores open at least a year fell 1.4 percent. At Wal-Mart’s namesake stores, that measure fell 1.8 percent, while at Sam’s Clubs it rose 1 percent.
Wal-Mart’s international business, which accounts for about 25 percent of its revenue, rose almost 16 percent to $25.9 billion, while Wal-Mart store revenue in the U.S. rose 0.6 percent to $64.6 billion. Sam’s Club’s revenue was up 3.4 percent to $12.46 billion.
Wal-Mart says it now expects it will earn between $3.95 and $4.05 per share for the year — up from $3.90 to $4. For the third quarter, it expects same-store sales to range from a decline of 2 percent to an increase of 1 percent.
–Compiled by Wendy Geister
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