Wal-Mart Stores misses 2Q earnings expectations, tops revenue forecasts
Wal-Mart Stores Inc. (WMT) on Tuesday reported fiscal second-quarter profit of $3.48 billion.
On a per-share basis, the Bentonville, Arkansas-based company said it had profit of $1.08.
The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The world's largest retailer posted revenue of $120.23 billion in the period, beating Street forecasts. Eleven analysts surveyed by Zacks expected $120.06 billion.
Wal-Mart expects full-year earnings to be $4.40 to $4.70 per share.
Wal-Mart shares have decreased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has declined nearly 3 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at http://www.zacks.com/ap/WMT
Keywords: Wal-Mart Stores, Earnings Report, Priority Earnings