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Thursday May 12, 08:13
Wal-Mart 1Q profit rose more than 13%
(by Mark Riley)
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Wal-Mart Stores, the world’s largest retailer, reported on Thursday that its first-quarter profit rose more than 13%.
Profit climbed to $2.46 billion, or 58 cents a share, from $2.17 billion, 50 cents, in the previous year. Excluding some items, the company earned 55 cents per share. Analysts were forecasting 56 cents per share.
Revenue rose 9.5% to $70.9 billion.
The company forecasts to earn 63 cents to 67 cents a share in the second quarter. For the total 2005 Wal-Mart expects to earn $2.70 to $2.74 per share.
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