Wal-Mart Profit Inches Higher, Tops Views

Wal-Mart's fourth-quarter earnings edged up 4%, narrowly topping Wall Street's expectation.

The world's largest retailer, however, offered a slightly softer-than-expected guidance as it faces the continuation of a consumer spending slowdown in the U.S.

The Bentonville, Ark., behemoth reported a fourth-quarter profit of $4.1 billion, or $1.02 a share, up from $3.94 billion, or 95 cents a share, a year earlier.

Adjusted for charges, earnings were $1.04 a share, 2 cents better than analysts' mean estimate, according to Thomson Financial. The bottom-line results were at the high end of Wal-Mart's guidance of 99 cents to $1.03 a share.

Read Full Article from TheStreet.com

- Posted: 2008-02-19 10:01:42

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