Wal-Mart Posts Earnings of 98 Cents a Share vs. 88 Cents Expected (Target VERY worried)
May 19, 2016
Wal-Mart Stores on Thursday reported a higher-than-expected quarterly profit and revenue, as sales in the U.S. market rose and the retailing giant kept a lid on costs.
Shares of Wal-Mart rose 7.5 percent in premarket trading following the announcement. (Get the latest quote here.)
Chris Horvers, retail analyst at JPMorgan, called the quarter “really impressive.”
The company posted first-quarter earnings per share of 98 cents, versus $1.03 a share in the year-earlier period. Revenue for the quarter came in at $115.9 billion, against the comparable year-earlier figure of $114.83 billion.
