Walmart reports in-line fall in quarterly profit

Walmart reported a decline in quarterly earnings that was in line with expectations on Thursday as it booked a modest increase in sales at existing stores.

Net income fell 7.9 per cent to $4.57 billion, or $1.43 per diluted share, in the fourth quarter ended on January 31st from $4.97 billion, or $1.53 per share, a year earlier.

Analysts on average had expected $1.43 per share, according to Thomson Reuters I/B/E/S.

Walmart said sales at US stores open at least a year rose 0.6 per cent, positive for the sixth consecutive quarter.

Reuters