WAL-MART Stores Inc. is reporting a 9 per cent increase in third-quarter net income as the world's largest retailer continues to bring back shoppers by re-emphasising it has the lowest prices.
The US-based company said on Thursday it earned $US3.63 billion ($A3.52 billion) or $1.08 per share in the quarter ended October 31. That compares with $US3.33 billion or 96 cents per share in the year-ago period.
Net sales excluding Sam's Club membership fees rose 3.4 per cent to $U113.2 million.
Analysts were expecting $1.07 per share on revenue of $US114 billion.
Wal-Mart says its revenue at stores opened at least a year rose 1.5 per cent, below Wall Street's estimate of 1.8 per cent.
Wal-Mart narrowed its full year earnings guidance and issued a fourth-quarter profit outlook that's below analysts' forecasts.
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