Quarterly Income Down 1.3% For Wal-Mart

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Wal-Mart Stores performed better than equity analysts expected in the recent quarter ending April 28, even with net income down by 1.3% to $3.039 billion. The $1 net income per share beat the consensus estimate of 96 cents per share.

Revenue was slightly less than analysts expected as Wal-Mart reported top line sales of $117.5 billion compared to the consensus of $117.7 billion. That said, revenue grew 1.4% from the $115.904 billion in the year-ago quarter. Some deflationary pricing and foreign currency exchange rates drove down revenue by roughly $1.3 billion in the quarter.  MORE

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