Higher Traffic, Int'l Sales Lead Wal-Mart (WMT) to Q1 Beat
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Wal-Mart (NYSE: WMT) shares are indicated for a higher Thursday following first-quarter 2012 results and outlook.
Revenue for the retail behemoth rose 8.6 percent to $112.27 billion, compared with expectations calling for $110.5 billion. Total revs were $113.02 billion, with membership revs slipping 3.6 percent in the quarter to $746 million. U.S. comps popped 2.6 percent on stronger traffic and ticket.
Net income rose 9.2 percent to $3.742 billion, or $1.09 per diluted share, topping expectations calling for EPS of $1.04.
Wal-Mart's International unit was a strong growth driver with sales up 15 percent year-over-year to $32.08 billion.
Operating margin was flat at 5.65 percent.
"Our merchants are focused on increasing sales through the right assortment at the right time and for the lowest price," quipped CEO Bill Simon. "We will continue to invest in price to lower costs for our customers by enhancing leverage initiatives and managing expenses."
Looking ahead, Wal-Mart sees second-quarter EPS of $1.13 to $1.18, versus the consensus of $1.16.
Shares of Wal-Mart are up 3.2 percent Thursday morning.
Revenue for the retail behemoth rose 8.6 percent to $112.27 billion, compared with expectations calling for $110.5 billion. Total revs were $113.02 billion, with membership revs slipping 3.6 percent in the quarter to $746 million. U.S. comps popped 2.6 percent on stronger traffic and ticket.
Net income rose 9.2 percent to $3.742 billion, or $1.09 per diluted share, topping expectations calling for EPS of $1.04.
Wal-Mart's International unit was a strong growth driver with sales up 15 percent year-over-year to $32.08 billion.
Operating margin was flat at 5.65 percent.
"Our merchants are focused on increasing sales through the right assortment at the right time and for the lowest price," quipped CEO Bill Simon. "We will continue to invest in price to lower costs for our customers by enhancing leverage initiatives and managing expenses."
Looking ahead, Wal-Mart sees second-quarter EPS of $1.13 to $1.18, versus the consensus of $1.16.
Shares of Wal-Mart are up 3.2 percent Thursday morning.
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