Wal-Mart Stores (WMT: Quote) reported third quarter net income of $1.08 per share Thursday morning, up from $0.96 per share a year ago. The consensus estimate was for EPS of $1.07. Revenues increased 3.4 percent to $113.93 billion from $110.23 billion in the same quarter last year, but missed the consensus estimate of $114.95 billion.
Fourth quarter earnings from continuing operations are expected to be between $1.53 and $1.58 per share. The consensus estimate is for EPS of $1.59. The company now expects to report full year 2013 EPS of $4.88 to $4.93, compared to previous guidance of $4.83 to $4.93. The consensus estimate is for EPS of $4.94.
Wal-Mart Stores gapped open lower Thursday and fell in early trade, before settling into a range. The stock closed down by 2.59 at $68.72, with volume at a 6-month high. Wal-Mart has been declining for the last month and sank to a 4 1/2 month low.
by RTT Staff Writer
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