Wal-Mart Posts Earnings That Top Estimates After Sales Rise
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Wal-Mart Stores Inc., the world’s largest retailer, posted third-quarter earnings that beat analysts’ estimates after the company paid less in taxes and U.S. same-store sales grew for the first time in seven quarters.
Earnings amounted to $1.15 a share in the period, the Bentonville, Arkansas-based company said today in a statement. Analysts had predicted $1.12 on average, according to data compiled by Bloomberg. U.S. comparable-store sales -- a closely watched benchmark -- increased 0.5 percent in the period, which ended Oct. 31. The shares jumped the most in almost six years after the results were released.