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Wal-Mart Profits Up

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In some positive news, Wal-Mart's third quarter profits came in strong and the chain upped its estimates for the fourth quarter.

Wal-Mart Stores Inc. posted third-quarter profits Tuesday of $2.86 billion and upped its projected earnings for the year as it heads into the holiday shopping season.

The 8 percent rise in profits by the world's largest retailer beat Wall Street expectations and drew recognition from analysts.

Shares jumped 5.7 percent, or $2.46, to $45.78 in early trading.

The company earned 70 cents per share, up from 62 cents per share in the same period a year ago. The 70 cents includes an after-tax gain equal to 1 cent per share. Analysts surveyed by Thomson Financial had forecast earnings of 67 cents per share on revenue of $91.67 billion

Wal-Mart had revenue of $91.95 billion in the period ending Oct. 31, up 8.8 percent from $84.47 billion a year ago.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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