Wal-Mart (WMT) Net Rises, Cuts Guidance

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Wal-Mart (WMT) reported that net sales for the second quarter of fiscal year 2008 were $91.99 billion, an increase of 8.8 percent over the second quarter of fiscal year 2007. Income from continuing operations for the quarter was $3.11 billion, an increase of 4.1 percent from $2.98 billion in the second quarter of fiscal year 2007.

WMT said estimates earnings per share from continuing operations for the third quarter of fiscal 2008 to come in between $0.62 and $0.65. In addition, the Company is updating its full year guidance for earnings per share from continuing operations for the full year of fiscal 2008, which it estimates to be between $3.05 and $3.13. The firm’s initial forecast for earnings per share from continuing operations for fiscal year 2008 was between $3.15 and $3.23 per share.

Douglas A. McIntyre