Wal-Mart Stores Inc. (NYSE:WMT) reported third quarter earnings before the bell today, that beat street view.
On a GAAP basis, WMT reported net income of $ 1.71 billion or 58 cents per share, compared with income of $ 1.75 billion or 58 cents per share, a year ago period.
Excluding special items, the company announced adjusted net income of $ 1.08 per share.
Headquartered in Bentonville, WMT recorded total revenue that rose 1% to $ 124.89 billion from $ 123.18 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected Wal-Mart Stores to reveal income of $ 1.01 per share on revenue of $ 125.55 billion for the third quarter.
Doug McMillon, President and CEO, commented, We have momentum in the business as we execute our plan and benefit from a favorable economic environment in the U.S. We’re accelerating innovation and utilizing technology to shape the future of retail. We’re making shopping at Walmart faster and easier. Our associates are equipped with the tools to serve customers better than ever before, and they’re doing a great job. With the holidays approaching, customers can count on Walmart to save them money, and we’ll also provide busy families with another important gift — time back in their day.
Looking ahead, Wal-Mart anticipates full year 2019 diluted earnings of $4.75 to $4.85 per share.