Wal-Mart's profit jumps; boosts forecast |
| MarketWatch - Nov 13, 2007 |
Giving an encouraging sign about the holiday season, No. 1 retailer Wal-Mart Stores Inc. on Tuesday said third-quarter profit rose 7.9% and raised its full year outlook heading into the holidays, its biggest selling period.
Shares surged 4.3% in Tuesday pre-market trading.
The Bentonville, Ark.-based retailer said net income rose to $2.86 billion, or 70 cents a share, in the quarter ended Oct. 31, from $2.65 billion, or 63 cents, a year earlier. Third-quarter results included a 1-cent gain from the sale of certain real-estate properties.
The Dow Jones Industrial Average component said revenue, including membership and other income, jumped 8.9% to $91.95 billion, also exceeding estimates.
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- Posted: 2007-11-13 10:20:37
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