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Wal-Mart 2nd-Quarter Net Higher

By: Alexa Hamblin
Updated: August 14, 2007
The worlds largest retailer reported second-quarter net income rose 49% on 8.8% higher sales and 8.9% higher revenue, and it cut its full-year earnings estimate. For the quarter ended July 31, the Bentonville company earned $3.11 billion, or 76 cents a share, compared with $2.08 billion, or 50 cents, in the year-earlier period. Shares outstanding fell 1.5% to 4.11 billion. Net sales rose to $91.99 billion from $84.52 billion. Net revenue rose to $93.01 billion from $85.43 billion. Comparable-store sales for the quarter, excluding fuel, rose 1.9% in the U.S.

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