Wal-Mart Shares Gain 2% Premarket As Q4 Profit Beats Expectations

By Trey Williams Markets MarketWatch Pulse

Shares of Wal-Mart Stores Inc. saw a 2.4% bump in premarket trade on Tuesday after the company reported earnings for the fiscal fourth quarter, in which profit came in above Wall Street expectations. Net income for the quarter was $3.8 billion, or $1.22 per share, down compared with $4.6 billion, or $1.43 per share during the same quarter a year ago. Adjusted per-share earnings were $1.30, above FactSet's $1.28 earnings consensus. Revenue hit $130.9 billion in the quarter, compared with $129.7 billion during last year's same quarter. FactSet had forecast for $131.1 billion in revenue. Domestic same-store sales for the fourth quarter were up 1.8%, more than FactSet's consensus of 1.3%. Wal-Mart said it expects fiscal year 2018 per-share earnings to be in the range of $4.20 to $4.40. Shares of Wal-Mart have gained more than 7% in the trailing 12-month period, while the S&P 500 Index is up more than 22% during the same period.

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